Washington (June 1, 2004) -- Buoyed by a projected 26 percent compounded annual growth rate, the value of global contracts for the outsourced procurement of services and goods is expected to more than triple from $200 million currently to $640 million by 2008, reports market research firm NelsonHall.
The financial services sector, along with high-tech/manufacturing, is showing the most interest in outsourced procurement activity among industry segments. The principal categories being targeted by procurement outsourcers currently include IT, business travel, telecommunications, contract labor, and office supplies and equipment. Growing areas include professional services, marketing, and MRO (maintenance, repair and operations) materials.
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