Topic: Purchasing StrategyDetails: Answer the following question.Q1: Your Sales Director has said that your products are now uncompetitive in world markets, and a cost reduction of 20 per cent is...

Topic: Purchasing Strategy Details: Answer the following question. Q1: Your Sales Director has said that your products are now uncompetitive in world markets, and a cost reduction of 20 per cent is required on purchased goods and services. The existing purchasing strategy is such that only European suppliers are used. How would you approach the existing strategy and formulate an alternative?