The procurement category plan identifies the buying strategy to be implemented. As procurement team member how are you going to identify the critical purchasing costs in the supply chain? How are secondary and tertiary costs going to be identified and controlled?

In my role as a member of the procurement team, I would first outline and identify all stakeholders and their roles and responsibilities. It will also help me to identify which tasks are likely involve large financial expenditures, along with any opportunities for cost-savings or efficiency. By mapping out the process, I can identify other areas where additional resources may be required (e.g. personnel, technology) to execute my buying strategy.

In order to achieve more competitive prices, it is important that I keep track of market trends such as changes in commodity prices or fluctuations in currency exchange rates. It is also important to keep up with relevant market trends, such as fluctuations in the exchange rate or changes in commodity costs. This will allow me to make adjustments when assessing my total cost.

For secondary and third-party costs to be controlled, not only the purchase price, but also other factors like payment terms, (e.g. whether there are discounts for early payments), delivery schedules and support services after sales (what kind of technical help is available, if required) must all be considered. Before making any decision, all these factors should be evaluated together to ensure that the maximum amount of value is obtained for each purchase.