ENTREPRENEURIAL OPERATIONS
PRODUCTION PLANNING AND CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When the Procurement department receives the goods/material purchased from Purchasing, the material will be used as stock in the warehouse. Stock changes in the warehouse due to additions/receipts using the menu:
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Goods Receipt (GR)
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Goods Issue (GI)
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Goods movement (GM)
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Good In Out
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Goods Material
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Explanation:
Detailed explanation-1: -Procurement is the term used when a company needs to obtain goods or services from a third party, such as vendors or suppliers. Procurement should be done in such a way that the goods and sources purchased are of high quality while also keeping costs in mind.
Detailed explanation-2: -Procurement involves every activity involved in obtaining the goods and services a company needs to support its daily operations, including sourcing, negotiating terms, purchasing items, receiving and inspecting goods as necessary and keeping records of all the steps in the process.
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