Purchasing can be defined as the function of a business undertaking, which is responsible for the procurement of materials, supplies, tools, machinery and services required to produce certain goods.
It is a managerial activity beyond the simple act of buying.
OBJECTIVES OF PURCHASING
Purchase of satisfactory material.
To control the quality of material.
Proper negotiations with suppliers.
Controls proper use of material.
Co-ordination with other departments.
Maintenance of company’s goodwill.
Information about cost of production.
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