Identify a company or industry that you are either familiar with or one
that you would like to become more familiar with. As a purchasing
professional of the chosen company or industry, identify a purchased
material or component that is used to produce a specific product.
Analyze how your purchasing strategies of this material or component
will change depending on the different stages of the Product Life
Cycle: Introduction, Growth, Maturity, and Decline. To perform this
analysis consider the following questions:
§ Where does the purchased material or component fall in the
Product Life Cycle? Is this a new technology or has this material or
component matured within its market?
§ Do you anticipate product functional changes that will require
revisions to the purchased material or component? How would the
Product Life Cycle stages of the product being produced alter your
purchasing actions?
§ At the different stages of the Product Life Cycle will you be more
inclined to negotiate either contracts or purchase orders with the
supplier?
§ How will you work with other functional areas within your company
to determine the best purchasing strategy for each Product Life Cycle?
Is the importance of cross-functional teams different depending on the
Life Cycle stages?
§ How would you consider financial risk when determining your
purchasing strategies?
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment