From the course: Supply Chain Basics for Everyone

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Where should I buy things?

Where should I buy things?

From the course: Supply Chain Basics for Everyone

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Where should I buy things?

- It's hard to know the right place to buy things, sometimes. And my advice is to not just think about price but to really consider value. So the value that an item has to you depends on it being the right product in the right quantity, of the right quality, in the right place, at the right time. Achieving all of those rights actually can cost money and they add up to the total value of the product. So think about it, if you get a great deal on a product but you now have to pay for shipping instead of being able to get it for free, well that actually adds to the cost without really changing the value for you. So, understand absolutely, if you can plan ahead and you can have the time to do it, generally, that's when you're going to get the best deal on any product that you buy. But make sure you think about the total cost of getting exactly what you need so that you get the best value for every dollar that you…

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