WILLDALE spent eight times more on local procurement in 2023 than it did the previous year as the brick-making company sought to minimise lead time and stock holding costs associated with sourcing raw-materials externally.
The company, the only brick maker with a publicly-traded stock, spent $17,71 billion in 2023 on local suppliers, reflecting an 832 percent rise from $1,9 billion in 2022.
“Willdale Limited developed an effective and robust costing system to manage cost to budget levels in terms of spending,” the company said in its annual report for the 12 months ended 30 September 2023.