The purpose of [a] _____ is to maximize value to the buyer and supplier by leveraging both internal company and external supplier resources and capabilities.

Question

Quizplus · Accepted Answer

A purchase category strategy is a comprehensive approach to managing a specific category of spend which includes the identification of suppliers and the strategies to maximize value to both the buyer and supplier. This often involves leveraging the resources and capabilities of both the internal company and external suppliers. Just-in-time manufacturing, Kanban, and cost reduction are more specific tactics or tools within procurement that may be utilized as part of a broader purchase category strategy. Therefore, A is the most appropriate choice.

The Purpose of [A] _____ Is to Maximize Value to the Buyer