Topic: Strategic Cost Management
Lessons: 1 video lesson
Total length: 10:32 min
When is it appropriate to create a sourcing strategy based on forecasted data?
There are a number of factors that must be taken into consideration, as well as a variety of strategies available to procurement professionals, such as spot buying or forward buying.
This video from eISM discusses the key factors that must be taken into consideration, how to allow for variability, and the best strategies to use at the right time.
Understand the key factors that must be considered when using forecasted data
Understand how to allow for variability in demand
Understand that strategies are applicable at different times, and in different scenarios