Reviewing the application of Purchasing Portfolio Theory in the context of the Product Lifecycle The essay must deal with the title, above. Kraljic’s contribution should be acknowledged and explained, and his critics should be addressed, and their further contributions discussed. The implications of the purchasing portfolio approach for the New Product Development process, and for the subsequent changes in priority that flow from the Product Lifecycle should be analysed and discussed. Bearing in mind that the original model and its variations emanate from the 1980s & 90s, it’s relevance to the modern business, should also be assessed. The essay should draw on, and refer to, established and recent literature on these matters. Wikipedia and other such websites should not be used as references. In other words, reference material should be academically sound, and not merely convenient.