Core Viewpoint - China Petroleum Daqing Petrochemical is focusing on "minimizing total lifecycle costs" in its procurement strategy, achieving a procurement cost savings rate of 6.28% in the first seven months of the year [1][2]. Group 1: Procurement Management - The company has established a long-term mechanism to strengthen procurement management, including five new management measures for material procurement and nine revised procurement management systems [1]. - Key control links have been detailed to ensure compliance and effectiveness in procurement processes, enhancing the foundation for refined management [1]. Group 2: Price Analysis and Strategy - The Material Supply Center conducts thorough market research for different material categories, comparing current prices with historical and internal regional prices to set reasonable maximum price limits [1]. - The procurement strategy incorporates comprehensive considerations of costs, management, and profit factors to ensure that the predicted optimal prices are scientifically grounded [1]. Group 3: Supervision and Compliance - Daqing Petrochemical utilizes information management systems to monitor procurement processes, ensuring compliance with budget standards, market conditions, and contract agreements [2]. - Regular evaluations of procurement prices are conducted to compare actual prices with market prices, historical prices, and supplier quotes, allowing for immediate analysis and corrective measures in case of price anomalies [2].