Benfits Kraljic S Model Organisations Today Q34305944

what are the benfits of the Kraljic’s model in organisationstoday?

Expert Answer

Benefit of the Kraljic’s model include, in organizationsinclude:

• It is a strong communication tool, simple and easy tounderstand. Applying Kraljic is a fairly straightforward processand facilitates easy mapping of the current situation.
• It focuses on those areas where potential benefits and risksare greatest. The matrix precisely highlights what impact eachcategory of items have on the financials of an organization. Basedon this, the buyer can formulate strategy to improve the bottomline such as reduce cost, improve efficiency etc.
• A good negotiating tool. It points to the intrinsic qualitiesof the products you
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