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
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
Purchase Evaluation Plan. Outlines the steps in the purchase process based on the purchase strategy.
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will take in selecting and evaluating purchase
anding that acquisition strategies vary based
ppropriate for the buying scenario requires
urchase process formality. Too involved a