What are the purchasing strategies that manage your costs and your inventory?

1.Buying in Bulk Most suppliers offer some type of discount when you buy larger quantities of their products.
2.Inventory Management You must be able to manage your inventory by knowing how much stock you have on hand and how much you need.
3.Building Vendor Relationships Get to know the vendors who supply your business with its basic supplies.
4.
Payment Terms Negotiate mutually satisfactory payment terms with your suppliers.
Regards, Ahmed

I believe one of them is JIT just in time.,seconed inventory management and stock high movement rate,third   LIFO and fifo inventory control,future cost controlled contracts,getting payment extensions on along term zero interest rate  contracts......etc.

Collect the quotation  from suppliers then make comparision sheet between them ..Then you find the best and cheap price from the suppliers...

1.Find out Ecnomic order quantity.

2.Find out Re order level

3.Vendor Rating

4.Ware house and Logistic Co-ordination

5.Credit purchase to enhance Cash flow

I am Maluki Kadoor from Algeria. I am 31 years old. I am married and have a child. I am looking for work as a security guard in public or private companies

The Purchasing strategy to manage cost and Inventory is right worked out by understanding EOQ - Economic Order Qty  ( which is balance structure in evaluating cost of Ordering as against with Cost of Holding of Materials , ie warehouse cost .

 

Also careful planning of Inventory using ABC/ HML /VED in line with PARETO analysis (80:20 ) ratios in identiying what is Important and adds value to the business .

Agree with Mohd Mustaqeem Mustaqeem

strictly control and reduce re-order cycles.   

adding to Mr.
Ahmed El Masry answer :
1- re- ordering point is import net since inventory will not store much materials , if its used at the time , JIT so the solution is to have at least1 or zero stock , this will save a lot specially for big compenys that have huge materials used and small inventory .
2- spend money only in the purchasing activity nothing else, (delivery , insurance , ..etc

Ensuring professional people are employed with the essential ethics and rewarding them competitively is another strategy of ensuring costs and inventory are under control.

Try to collect the same materials from more than one project to be more and cheaper Find the most amount of companies and collect quotes Compare prices Offers Negotiate the lowest prices deals with companies Baptism lowest price Buy whole material in the case of having obstructed in the market and applications stored in the store Purchase materials before the start of the new year and stored in the store Dispense with the market on public holidays for companies and is Mavi store enough Sincerely ...