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Discuss the view that a procurement strategy can be directly linked to the organization’s strategy and long-term business plan

Discuss the view that a procurement strategy can be directly linked to the organization’s strategy and long-term business plan

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Discuss the view that a procurement strategy can be directly linked to the organization’s strategy and long-term business plan
Expert Solution
Step 1: Introduce procurement strategy:-

A procurement strategy is a plan that helps an organization get the required goods and services. These are the things that are needed to achieve its objectives efficiently and effectively. It includes making decisions about sourcing, supplier selection, contract negotiation, and supplier connection management. 

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