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- 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?
