Can 偷工减料 be used to describe the intentional and open purchasing of somewhat inferior product? I know that 偷工减料 is frequently used to describe intentionally (and perhaps secret) shoddy construction. When I translate it, I usually say "Cut corners". However, I think 偷工减料 has a very negative connotation, whereas "cut corners" has a somewhat less negative connotation.

Does 偷工减料 have a much more negative connotation than "cut corners"? 

Can I use 偷工减料 to describe intentionally purchasing inferior product that everyone knows about? For example, let's say that an IT department purchases a lower-end computer rather than a high-end (and perhaps more up to an acceptable standard) computer. They do so publicly and with everyone's knowledge. Can I call this "偷工减料"?
偷工减料 means shoddy/poor workmanship and lousy/substandard materials. It is not something you would use to describe intentionally buying something that is inferior or less expensive. It is by nature something that is deceptive or dishonest or even corrupt and dangerous. It is more severe than cutting corners, which is sometimes associated with the term "cost down" if cost reduction is being done dishonestly.