ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
It is the process a business or organization uses to acquire goods or services to accomplish its goals.
|
|
supplier selection
|
|
|
inventory management
|
|
|
purchasing
|
|
|
answer not given
|
Explanation:
Detailed explanation-1: -Purchasing is the process a business or organization uses to acquire goods or services to accomplish its goals.
Detailed explanation-2: -Procurement process involves several elements, including requirements determination, supplier research, value analysis, raising a purchase request, reviewal phase, conversion to purchase order, contract administration, monitoring/evaluation of received order, three-way matching, payment fulfilment, and record keeping.
Detailed explanation-3: -Standard Purchase Orders (PO) Planned Purchase Orders (PPO) Blanket Purchase Orders (BPO) (Also referred to as a “Standing Order”) Contract Purchase Orders (CPO)
There is 1 question to complete.