The process of a business or organization attempting to acquire goods or services to accomplish the goals of its enterprise is called purchasing
What is the purchasing means?
Purchasing is the organized acquisition of goods and services on behalf of the buying entity. Purchasing activities are needed to ensure that needed items are obtained in a timely manner and at a reasonable cost.
What are the 3 types of purchasing?
There are three main types of procurement activities: direct procurement, indirect procurement, and services procurement
Why is purchasing important?
Purchasing is generally responsible for spending more than 50 percent of all the revenues the firm receives as income from sales. More money is often spent for purchases of materials and services than for any other expense, and the spend in services is rapidly increasing.
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