The purchasing department is responsible for procuring raw materials and other resources at the best possible price. In relation to the above, and with the aid of examples, discuss the functions of the purchasing management.
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The purchasing department is responsible
for procuring raw materials and other resources at the best possible
price. In relation to the above, and with the aid of examples, discuss the
functions of the purchasing management.
Step by step
Solved in 2 steps
- 1. Examine the challenges encountered in the process of planning procurement audits.2. Discuss three (3) areas of importance in the procurement process.Critically expain how measurement of performance within the procurement and supply department an contribute to achievement of the following in an organization a) icreasing profit b) delivering a higher quality product and services
- Define the term Independent Demand and explain how it relates to the salesand marketing activity of firms. Explain the benefits of accurate estimationof future Demand within the context generating a reliable production planWhat is the rationale for colocating internal customer purchasing personnel?The Majestic Theater had 378 cans of Kettle Corn and 132 cans of regular Pop Corn on hand at month end. During the next month Majestic sold 142 cans of Kettle Corn and 67 cans of regular Pop Corn. Cans of each cost $28.40. What is the value of the inventory on hand at the end of the second month?
- For the Stock Management process, describe the IT software that might be used by the Procurement Department (Purchasing) in order to determine which goods and what quantity of them are required by the shop. Explain the Business process and how the selected software can support it. What would be the advantages/disadvantages?What is Inventory Control and its Objectives?a) Explain what a “supply chain” is. b) Explain why practioneers of supply chain management need to understand management accounting.