WHAT'S THE ROLE OF YOUR PURCHASING STRATEGY?

The first question is: What is the role of a purchasing strategy? The second is: What is the role of your purchasing strategy? The universally correct answer to the first question is: To support the organization's overall strategy. Easy. But there is no universally correct answer to the second...

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Bibliographic Details
Published inAmerican Fastener Journal Vol. 35; no. 1; p. 56
Main Author Dominick, Charles
Format Trade Publication Article
LanguageEnglish
Published Carefree American Fastener Journal 01.01.2019
Subjects
Cost control
Strategy
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Summary:The first question is: What is the role of a purchasing strategy? The second is: What is the role of your purchasing strategy? The universally correct answer to the first question is: To support the organization's overall strategy. Easy. But there is no universally correct answer to the second question. The specifics needed to answer that question require a thorough understanding of your organization and its overall strategy. Mismatches between purchasing strategy and organizational strategy run rampant. Sometimes, it's an embarrassment to the profession. I encourage you to be part of the solution, not part of the problem. To do so, I recommend that you immerse yourself in understanding your organization's overall strategy.
ISSN:1064-3834