Optimizing Procurement: Essential Strategies for Purchasing Departments
Enhancing Customer Value: Quality, Time, and Price
Achieving excellence for customers involves delivering superior quality, timely service, and competitive pricing.
Needs Assessment in Procurement
Needs assessment involves analyzing information related to purchase requests, determining: when to buy, how much to buy, the purchase price, and the required quality.
Companies centralize all purchases through the purchasing department, which receives applications via a document often called a “purchase requisition,
Read MoreStrategic Brand Management: Lifecycle, Decline, and Revival
Any marketing actions a firm takes today can change consumers’ brand awareness or brand image and have an indirect effect on the success of future marketing activities. For example, the frequent use of temporary price decreases as sales promotions may create or strengthen a “discount” association to the brand, with potentially adverse implications for customer loyalty and responses to future price changes or non-price-oriented marketing communication efforts. Marketers must actively manage brand
Read MoreEconomic Project Evaluation: Key Financial Terms
Cost & Value Concepts
Annual Equivalent Cost (AEC)
When only costs are involved, the Annual Equivalent Cost (AEC) method is applied.
Capital Recovery Cost
Owning equipment involves two transactions: (1) its initial cost (P) and (2) its salvage value (S).
Salvage Value
The asset’s value at the end of its useful life. It is the amount recovered through sale, trade-in, or salvage, net of all costs incurred for disposal and restoring the site to its original condition if required.
Cost Basis
Represents
Read MoreMastering Your Job Search: Strategies, Resumes, and Interviews
Understanding the Job Search Process
Job Search Fundamentals
The job search involves actively seeking employment opportunities through various job placement services, both public and private.
Key Indicators for Quality Job Portals
- Quality: A reputable job portal should present a clear organization of content, provide essential user information, offer easy registration, include effective search engines, and display comprehensive job details.
- Security: Personal and professional data provided for your history
Strategic Industry Analysis & Creative Product Marketing
Understanding Industry Dynamics: Key Factors for Analysis
Key factors for industry analysis are the fundamental elements used to understand how a sector operates, assess its profitability, identify opportunities, and anticipate risks. These factors encompass aspects such as market size, competition, consumer behavior, and the external environment.
1. Market Size and Growth
This factor reveals an industry’s scale in terms of revenue and its historical growth trajectory. For example, the video game industry
Read MoreFinancial Derivatives: Futures, Options & Credit Essentials
Concept of Financial Derivatives
Financial derivatives are sophisticated financial products derived from other underlying assets. They serve as hedging instruments to manage or profit from variations in the price of an asset, which in turn depends on other financial variables over time.
Understanding Derivative Markets
Futures markets are term markets for financial assets where the sale price of an asset is contracted in advance for delivery at an agreed future time.
Financial options markets involve
Read More