Purchasing Strategies

Write a 700 to 1050 word paper that defines the
similarities and differences of the purchasing strategy you will use at
each stage of the Product Life Cycle of your company’s specific product.

Identify a company or industry such as IBM or HP or one that you would like to become more familiar with.
As a purchasing professional of the chosen company or industry, identify
a purchased material or component that is used to produce a specific
product.

Analyze how your purchasing strategies of this
material or component will change depending on the different stages of
the Product Life Cycle: Introduction, Growth, Maturity, and Decline.  To
perform this analysis consider the following questions:

• Where does the purchased material or component fall in the Product
  Life Cycle?  Is this a new technology or has this material or component
  matured within its market?
• Do you anticipate product functional changes that will require
  revisions to the purchased material or component?  How would the Product
  Life Cycle stages of the product being produced alter your purchasing
  actions?
• At the different stages of the Product Life Cycle will you be more
  inclined to negotiate either contracts or purchase orders with the
  supplier? 
• How will you work with other functional areas within your company to
  determine the best purchasing strategy for each Product Life Cycle?  Is
  the importance of cross-functional teams different depending on the
  Life Cycle stages?
• How would you consider financial risk when determining your purchasing strategies?

Format your paper consistent with APA guidelines.