Survey

Which one of the following would not help you reduce the cost of a purchase anywhere in the world?

Change to another authorized product description.
Reroute to a lower cost transportation.
Use a sourse with a lower tariff.
Change product design to a lower cost for components.
Postpone purchase until tariff changes.
Increase the quantity purchased.

Do You Consider the Amount of Time Used When Buying?

Date: 01/02/2019

Author: H.E. Hough

Most purchasing operations only compare bids from one to three suppliers. In practice, buyers may not get competitive quotes for small quantities of low cost items, but they should shop more when the investment required is high. How much more time they spend with many suppliers should depend on the cost of their time compared with the potential savings obtained. But how many buyers compare their time to the amount of the potential cost savings. Do you accurately measure and compare your time spent with the savings obtained?




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