New cost-saving initiatives launched by the FMO

New cost-saving initiatives have been launched for optical companies that are members of the Federations of Manufacturing Opticians (FMO).

FMO benefit provider, the Buying Support Agency (BSA), has extended its cost-saving schemes to include travel booking, legal fees, fuel cards and staff perks.

BSA director, Matt Roper, explained: “Up to 34% savings can be achieved with the right procurement policy. We are looking at cost savings across some 20 different cost categories. After staff costs, plus sales and marketing, procurement often has the most critical effect on the company’s profit, as every pound they save hits the bottom line.”

The latest benefits include travel booking for hotels, air and train fares, car hire and fleet services, plus reductions in legal fees, fuel cards and staff perks. The cash-back and voucher schemes include companies such as Marks & Spencer, Tesco, Homebase and British Gas.

“Best practice procurement is all about getting value and gaining a competitive advantage to your business,” concluded Mr Roper.

FMO members using the service include Seiko. Seiko UK managing director, John Conway, said: "We have found that BSA’s experience in sourcing best value after reviewing our incremental costs was very good and helps us greatly.”

Benefits also include stationery and office supplies, print and packaging, waste recycling, telecommunications and business rates.

For more information, visit the BSA website, www.buyingsupport.co.uk quoting FMO.