The above question talks about the KRALJIC PORTFOLIO PURCHASING MODEL.
The Kraljic Portfolio Purchasing Model was created by Peter Kraljic and it first appeared in the Harvard Business Review in 1983. Despite its age, it's a popular and useful model used in companies worldwide.
Its purpose is to help purchasers maximize supply security and reduce costs, by making the most of their purchasing power. In doing so, procurement moves from being a transactional activity to a strategic activity – because, as Kraljic said, "purchasing must become supply management."
The model involves four steps:
The question asks us to enumerate the different purchase items an organization would choose from. For this only FIRST STEP OF THE MODEL is required by the question.
Purchase Classification
Start by classifying all of the commodities, components, products, and services that you buy according to the supply risk and potential profit impact of each.
Then mark each item in the appropriate place on the product purchasing classification matrix (see below):
Kraljic recommends the following purchasing approaches for each of the four quadrants:
These items deserve the most attention from purchasing managers. Options include developing long-term supply relationships, analyzing and managing risks regularly, planning for contingencies, and considering making the item in-house rather than buying it, if appropriate.
Note that step 3, below, provides detailed options for the best purchasing approach for these items, after considering other factors.
Purchasing approaches to consider here include using your full purchasing power, substituting products or suppliers, and placing high-volume orders.
Useful approaches here include overordering when the item is available (lack of reliable availability is one of the most common reasons that supply is unreliable), and looking for ways to control vendors
Purchasing approaches for these items include using standardized products, monitoring and/or optimizing order volume, and optimizing inventory levels.
ps 200 P-vc QUESTION 2 1. Using a diagram, categorize purchase items sourced by an organization...
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