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Article: Using the product life cycle concept to formulate actionable purchasing strategies.
- Article from:
- Singapore Management Review
- Article date:
- July 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Singapore Institute of Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Abstract
Increasing demands on cost reduction, continuity of supply, and materials quality together with rapidly changing technology and intensifying competition have significantly broadened the scope of procurement, and elevated its stature at the corporate level. Modem purchasing managers may do more forecasting and planning, command greater decision-making authority, develop and implement strategies for different functions within the company, and participate in formulating corporate strategies. These new responsibilities require a reconceptualisation of procurement. Most important is the need for a set of carefully conceived purchasing strategies sequenced ...