Cost Reduction and Procurement Strategy Scenarios Questions

Scenarios like: 'We're spending $10M annually with five different suppliers for similar materials—consolidate or diversify?' or 'A key supplier is raising prices 15%; what's your response strategy?' or 'We have budget pressure; how do you reduce procurement spend without compromising quality?' Practice brainstorming multiple approaches: volume consolidation, process improvements, alternative materials, supplier competitive bidding, waste reduction, payment term optimization, or negotiation. Show that you understand trade-offs: consolidation reduces costs but increases risk; diversification maintains supply security but forfeits volume discounts.