Procurement
- Production Management
Benefits of Scientific Purchasing to a Company
Benefits of Scientific Purchasing: The purchasing department is entrusted with the task of procuring the materials. The function of the…
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The Factors Affecting Make or Buy Decisions
A company may produce either all parts and components for its final product or purchase some of these parts from…
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5 Main Objectives of Purchasing Function: LATEST
Today, purchasing as a function has acquired a new dimension and may be defined as the function of procurement, with…
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Important Qualities of a Purchase Executive
The quantity of purchased goods must be according to the requirement of the production. Purchase of more or less quantities…
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5 Advantages of Decentralization of Purchasing
Decentralization is desirable under certain situations. Thus, in company with plants widely scattered there is considerable justification for a degree…
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9 Advantages of Centralized Purchasing
Centralization or decentralization of purchasing function has nothing to do with physical location of purchasing personnel. It is a problem…
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An Ideal Purchasing Procedure for Medium Sized Company
Procedure is action oriented. It indicates series of steps to be taken to accomplish a desired task. Since efficiency in…
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Objectives and Importance of Scientific Purchasing
In common parlance, “purchasing” is used to denote procurement of materials, machines and tools on payment. But today purchasing as…
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Importance Of Understanding Business Process
To run a business properly, one should understand the internal process of that business. The P2P (Procure to Pay) and…
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Variances Really Suck The Company’s Growth
We have learnt that favorable and unfavorale variances are adjusted to Cost Of Goods Sold to derive the Gross Profit…
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