ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Purchasing, also known as procurement, is the buying of all the materials needed by the organization.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Purchasing, also known as procurement, is the process used to acquire raw materials, components, products, services, or other resources from suppliers. Sourcing is the entire set of business processes required to purchase goods and services.
Detailed explanation-2: -The terms procurement, purchasing, sourcing and supply chain are often used interchangeably. However, there are important distinctions between them.
Detailed explanation-3: -Answer and Explanation: The above statement is True.
There is 1 question to complete.