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Purchase Strategy Tool Developing a Purchase Strategy. The purchase strategy is the approach that the enterprise will take in selecting and eval decisions concluding with the purchase, lease, or contracting of a product or service to satisfy a purchase need. Successful Purchase Strategy. One of the keys to successful vendor management is understanding that acquisition strate on types of purchases and the significance of those purchases. Selecting a purchase strategy appropriate for the buying sce balancing out purchase significance with the appropriate amount of research, evaluation, and purchase process formality. T process can be a waste of time where risk is low, but skipping important steps in the purchase process where purchase sig can have catastrophic results. Purchase Significance. The significance of the purchase revolves around various risk factors associated with the purchas evaluate the complexity of the purchase, its cost, as well as the impact that the purchase decisions may have within IT and as a whole. Purchase Type. Purchases can be grouped into one of four categories: hardware, including all equipment; software; techni as phone and Internet service; and professional services, which would include consultants, programmers, accountants, and contracted labor. Using This Tool. The Purchase Strategy Tool poses a set of questions in tab two that generate a purchase significance sc the purchase type and significance score to recommend a purchase strategy that includes the following: Type of Purchase Strategy Required. The strategy may be as basic as looking up an item on a standard items list an as complex as going through a bidding process using a formal Request for Proposal Members of the Purchase Evaluation Team. With a strategy in place, the tool suggests the individuals that will make evaluation team. Purchase Evaluation Plan. Outlines the steps in the purchase process based on the purchase strategy. Info-Tech Research Group tools and template documents are provided for the free and unrestricted use of subscribers to In Group services. These documents are intended to supply general information only, not specific professional or personal adv intended to be used as a substitute for any kind of professional advice. Use this document either in whole or in part as a bas document creation. To customize this document with corporate marks and titles, simply replace the Info-Tech Information in Footer fields of this document. will take in selecting and evaluating purchase purchase need. anding that acquisition strategies vary based ppropriate for the buying scenario requires urchase process formality. Too involved a p
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