Answer Posted / vishnu
The act of obtaining or buying goods and services. The
process includes preparation and processing of a demand as
well as the end receipt and approval of payment. It often
involves
(1) purchase planning,
(2) standards determination,
(3) specifications development,
(4) supplier research and selection,
(5) value analysis,
(6) financing,
(7) price negotiation,
(8) making the purchase,
(9) supply contract administration,
(10) inventory control and stores, and
(11) disposals and other related functions.
The process of procurement is often part of a company's
strategy because the ability to purchase certain materials
will determine if operations will continue. A business will
not be able to survive if it's price of procurement is more
than the profit it makes on selling the actual product.
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
how do the benefits of using a CPIS outweigh the disadvantages?
From a strategic perspective, how can senior management make the best use of the human resorce function?
9. Who is an ideal team worker according to you?
Hii I pased my MBA HR through corespondance and I did my BSC (com sci) right now I am not in my country and I don't know any thing about HR because I passed my MBA just for passing now can any one tell me what should I do to get a job ? In which field should I go ? I have 7 months experience in HR but I don't think its working to find a job. pls suggest me what should I do?
what is full form human resource (hr)?
I did my BSc(Hons.)biosciences.I want to do MBA(HR)i got 5084 rank.Is my option correct please suggest.Please guide me with some information about the colleges where i can join
why do you want to do mba after bsc zoology hons
What can you do for the growth of BHEL?
This Problem May Arise For Most Of The MBA'S That AFter Studing MBA Which Job SHOULD We Have To Apply HR POINT OF VIEW
how can we communiucate as realistic a picture as possible of a job and of the organization to prospective emplyees? What kins of issues are most crucial to them?
What should be the components of a fair policy with regard to collecting, maintaining, and disseminating information about employees?
what is the variable and verticals of a firm or a consultency
How long would it take you to make a meaningful contribution to this organization
what are the hr implications of Technical approach an External resource approach
Should interviers be permitted to assess professionalism and confidence and how one reacts to the everyday nuisances of work by putting applicants into a confrontational scenario?