COST ACCOUNTING
INVENTORY AND PRODUCTION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To buy the raw materials needed to make products
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To buy goods and services the company needs internally to operate
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To buy goods with the sole purpose of reselling them to customers
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To look for opportunities to buy out smaller companies to grow the business
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Detailed explanation-1: -Purchasing agents are responsible for researching and comparing suppliers, goods, and services. Then, they select the most suitable ones in terms of reliability, product quality, and cost-efficiency to ensure that their company is getting a good deal from the purchase.
Detailed explanation-2: -A Purchasing Agent, or Product Purchasing Agent, finds and purchases products for a company to use or resell. Their duties include locating suppliers, researching goods, services and materials and processing purchasing orders.
Detailed explanation-3: -Purchasing departments are at the centre of successful supply chain management. Typically, they help other departments identify their needs, manage the requisition process and source competitive prices, and generally act as controllers to ensure adherence to budgets.