ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Arrange the following procedures in the correct sequence for purchasing in a large firm.I. Obtain information on the best market price availableII. Send orders to suppliers and copies to appropriate departmentsIII. Follow up actions to ensure delivery is on timeIV. Check the goods against the invoice and report on their conditionV. Collect request from department or stockroom for the goods needed
|
|
I, II, III, IV and IV
|
|
|
II, III, IV, I and V
|
|
|
I, V, II, IV and III
|
|
|
V, I, II, III and IV
|
Explanation:
Detailed explanation-1: -The process of linking purchasing and accounts payable systems to increase efficiency is known as procure-to-pay. It is part of a wider procurement management process that has four stages: choosing products and services, enforcing compliance and order, receiving and reconciliation, and invoicing and payment.
Detailed explanation-2: -Step 0: Needs Recognition. Step 1: Purchase Requisition. Step 2: Requisition review. Step 3: Solicitation process. Step 4: Evaluation and contract. Step 5: Order management. Step 6: Invoice approvals and disputes. Step 7: Record Keeping. 27-Mar-2023
There is 1 question to complete.