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Course Description

A buying strategy that cuts administrative costs for high-value, high-volume inventory items doesn't necessarily do the same for low-value, low-volume inventory items. The category of the inventory item you are looking to procure determines which buying strategy you should use. Each of these strategies has their own nuances and risks, but they all aim to reduce administrative overhead and foster the right relationship with your supplier. In this lesson, you will compare the dynamics of stable and unstable markets and the role that volume and timing have on purchasing decisions in each of those markets. You will formulate buying strategies appropriate for different buying scenarios including contracts, blanket orders, and prime vendor agreements. Finally, you will examine situations where hedging may be the solution to stabilizing prices.

Benefits to the Learner

  • Explore the impact that market stability, volume, and timing have on buying strategies
  • Formulate different buying strategies for different levels of inventory
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Type
self-paced (non-instructor led)
Dates
Jun 11, 2022 to Dec 31, 2030
Total Number of Hours
1.0
Course Fee(s)
Regular Price $0.00
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