The BU7708KRALJIC Portfolio Purchasing Model and procurement sourcing strategies article focus on procurement best practices. Peter Kraljic created the Kraljic Portfolio Purchasing Model. Also, it first appeared in the Harvard Business Review in 1983. Importantly, its purpose is to help purchasers maximize supply security and reduce costs. In doing so, procurement moves from being a transactional activity to a strategic activity. The article also looks at the supplier development advantages in procurement. Notably, the model involves four steps. First, there is the purchase classification which is critical to the procurement function. A market analysis follows as the second step. This step involves carrying out a market survey. Thirdly, there is the strategic positioning. The article on BU7708 Kraljic Portfolio Purchasing Model and procurement sourcing strategies highlights useful procurement tools that are the Krajic model.
For more information on the Kraljic Portfolio Purchasing Model, click
PROCUREMENT SOURCING STRATEGIES IMPORTANT FOR PROCUREMENT MANAGERS
The assignment also discusses several procurement sourcing strategies that procurement managers need to know. The proper identification, appraisal and engagement of suppliers for the acquisition of goods and services is a crucial function. That is for any Chief Procurement Officer – and this role is one that requires incredible skill. There are several tactics that procurement managers need to know. First, managers need to have a thorough understanding of their stipend category. The article also highlights supplier development advantages that procurement managers should understand. Secondly, managers need to evaluate the supplier marketplace. This appraisal gives you a great idea of who the critical category players are and other best. The article on BU7708 Kraljic Portfolio Purchasing Model and procurement sourcing strategies helps in understanding sourcing strategies for procurement managers.
BU7708KRALJIC PORTFOLIO PURCHASING MODEL AND SUPPLIER DEVELOPMENT ADVANTAGES FOR THE PROCUREMENT FUNCTION
The research paper further discusses supplier development advantages for businesses that lead to long-term business relationships. There are many different approaches to successful supplier development. That is whether they be through a structured program or informal company initiates or processes. Thus, it’s important to note that each organization is different, and supplier development methods should get tailored accordingly. The article also looks at the procurement sourcing strategies that businesses should practice. There are several advantages to implementing and executing a well-designed supplier development program, ultimately leading to better overall supplier relationships. First, it leads to the full transparency between organizations and suppliers. Secondly, it leads to improved collaboration between the organization and the supplier. The BU7708 Kraljic Portfolio Purchasing Model and procurement sourcing strategies article helpful in understanding the need for supplier development strategies.
For more information on supplier development advantages for the procurement function, click
Additional attachments
>> Download
