Cost Reduction

Cost Reduction is becoming increasingly important across global construction, infrastructure and industrial technology, influencing how projects are visualised, coordinated, delivered and managed over time.

5 Effective Cost Reduction Strategies in Procurement

Posted by Anthony Davis

|July 22, 2024

5 Effective Cost Reduction Strategies in Procurement

I wonder how businesses with no knowledge of reducing the cost of procurement stay afloat. The industry is full of sharks waiting to prey on the unseasoned, and procureme...

Weekly Spot Prices - 21 Aug 2026

Indicative weekly spot prices for 60/70 grade. Actual delivered costs vary by packaging, logistics and duties.

Region	USD/tonne	Trend
Middle East · FOB (drums)	543	▲
Europe · Delivered	618	▲
Asia · Delivered (bulk)	598	▲
USA · Bulk	555	▼

➤ Request Today’s Bitumen Quote ➤

Fast response — global suppliers (international network)

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.

Necessary

Always Enabled

Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.

Cookie	Duration	Description
cookielawinfo-checkbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

Functional

Performance

Analytics

Others

Mastenbroek Refines 20/15 Drainage Trencher for 2026

Used Equipment Supply Tightens as European Buyer Demand Accelerates

NVIDIA Opens Alpamayo 2 Super for Commercial Autonomous Driving

Liebherr Brings Electrified Quarrying and Heavy Machinery to steinexpo

How Drive-by-Wire Is Reshaping Autonomous Machine Architecture

Volvo EC400 Hybrid Cuts Fuel Use by 30% at Clariant Bentonite Mines

The $1.5 Billion Race to Build the Operating System for Autonomous Machines

ASTM Proposed Asphalt Cracking Standard Strengthens Balanced Mix Design

Turning Drone Inspections into a Long-Term Memory for Bridges

Nextpower Pushes Solar Integration Deeper into the Power Plant with NX PowerMerge

Esri’s World Imagery Expansion Brings Infrastructure into Sharper Focus

What to Look for When Replacing Old Access Covers

Hyundai and Shell Pivot to E-Fluids and Thermal Management

First USA Built Volvo Excavators Signal a Shift Towards Regional Manufacturing

Bentley’s YII 2026 Finalists Reveal the Next Stage of Digital Infrastructure

The Common Digital Language Becoming Infrastructure for Global Trade

Japan’s Road Safety Push is Becoming an Infrastructure Strategy

Dual-Power Equipment the Practical Route for Landscape Electrification

DEVELON Expands Compact Equipment Strategy with DEF-Free Track Loaders

Where Do Electrical Equipment and Civil Construction Meet on Major Projects?

Cost Reduction

5 Effective Cost Reduction Strategies in Procurement

Cost Reduction

Related topics