What factors have caused the current interest in, and attention to, strategic
purchasing and supply planning?
Answers
Answer:
Quality of good and service, availability of resource, availability of alternative resource, level of competition.
Answer:
These Purchasing strategies are very essential and clearly mention the goals and objectives in the right attributes for the growth and devolvement of the organization.
The supply strategy ensures the smooth functioning of the organization and calibrates the stock to avoid chaos in the future.
Explanation:
It takes into consideration the factors that impact within and outside the organization and measures it with the obtained results as well. Some of the elements of the Purchase strategy are:
- Well-defined Goal
- Evaluated Objectives
- Development Strategy
- Evaluative Plans
Well-defined Goal
A well-defined goal directs towards the right path towards growth and development and thereby accomplishing the core values and vision of the organization.
Evaluated Objectives
Through measurable objectives, we can analyze the company’s objectives over years and it helps to identify the progress as well.
Development strategy
Once the precious objectives have been fulfilled, the development strategy helps us to identify and modulate new strategies to tackle the upcoming hindrance in terms of purchasing.
Evaluative Plans
Evaluative plans are a very essential element in the strategy of purchasing plan.
It acts as an indicator of the current plans and provides us the information regarding current progress whether the plan is in a state of pending or successful.
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