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base . It achieves these partially through a savvy approach to procurement and by forming a number of strategic partnerships .

“ We ’ ve set ourselves the ambition to deliver value for the company of 1 billion Euros by 2020 ,” says De With . “ We want to create value in four strategic areas : cost transformation , reliability – which is essential in this industry – sustainability , and innovation . Innovation is in everything we do ; in our processes and our technology , but also in partnership with others to use their capabilities . Delivering value in a broader sense rather than just cost savings is what we really aim for with procurement .” Partnerships Covestro picks its suppliers and partners carefully , ensuring they also adhere to the company ’ s high standards . It has a very large supplier base including around 100 key suppliers : “ We are very selective in understanding who the real strategic suppliers are that can add significant value ,” De With explains . “ It ’ s not just a procurement job ; board members , marketing , sales , operations and R & D colleagues are involved – we all talk about our four key strategic areas . In addressing sustainability with those suppliers , we don ’ t

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