ECONOMICS

Detailed explanation-1: -Here’s the thing: purchasing costs include a wide variety of fees, logistics and vendor costs, and human capital. As a rule, these costs encompass every step of the procurement process that we mentioned above, each of which are easier on a purchasing platform.

Detailed explanation-2: -the costs of preparing and issuing purchase orders, receiving and inspecting the items included in the orders, and matching invoices received, purchase orders, and delivery records to make payments. Ordering costs include the cost of obtaining purchase approvals, as well as other special processing costs.

Detailed explanation-3: -Ordering costs are the costs of preparing, issuing, and paying purchase orders, plus receiving and inspecting the items included in the orders. Purchase approval and special processing costs are related to the number of purchase orders processed.

Detailed explanation-4: -Receiving clerk is responsible for checking orders against shipments for quantity and quality of goods. The purchasing agent is involved in the physical control of materials. The purchasing agent is responsible for the preparation of material requisitions and specifying the kind of materials of materials needed.