Yes. What we did was establish a third, purchasing company. This companyh did all the purchasing and was the supplier to each of the other companies. Supply Chain passed its requirements into the purchasing company, which drop shipped all of its purchases into either of the two real companies. This also allowed for easier contract negotiation and tracking as all the suppliers sold to just one company.
Finance will have to track purchase variances as the standard costs will be different from the purchasing company to each of the logistical companies, but that cen be solved by a single, monthly G/L entry.