Question

discuss now strategic cost management and contract management apply to the acquisition of goods and services in both the public and private sectors.

Answer 1

Ans:-

Following are the advantages:

1. Understanding the price points-

If we tend to do the exercise of Strategic price management Associate in Nursingd contract management than the primary advantage we tend to get is that we tend to get an understanding the general cost issue permanently to get. whereas doing the analysis and award contract for purchase we tend to do get the worth of product from totally different sources of provides in market.

2. monetary Planning-

After we apprehend that what quantity and on what price we've to get we are able to select a better monetary designing additionally. These exercise tells U.S. the precise quantity of cash we tend to need to accumulate the products.

3. Safety from value fluctuations-

Just in case we tend to select price management and contract management to get the products usually we might wish to select a small amount of long terms rate contract with the provider, just in case if the worth go upwards the organisation are insulated by the harm of high costs.

4. Savings in terms of overheads-

If we tend to don't get sensible during a planned manner and for a protracted term we've to stay doing the activity once more and once more which can attract the value of your time wastage and human resource associated to that. just in case of going by the strategies of price management and contract management we are able to save this point by going for the acquisition during a set manner.

5. Obtaining the required goods-

Just in case of absence of coming up with for acquisition of fabric we tend to could have to be compelled to face shortage of products someday, it should be a case if we've not betrothed with the suppliers previous just in case of demand we tend to might not get the products in market.