ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ process focuses on the purchase of raw material, components and goods.
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Planning
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Procurement
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Establishing supply chain
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None of the above
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Explanation:
Detailed explanation-1: -Direct procurement refers to obtaining anything that’s required to produce an end-product. For a manufacturing company, this includes raw materials and components. For a retailer, it includes any items purchased from a wholesaler for resale to customers.
Detailed explanation-2: -Procurement is obtaining or purchasing goods or services, typically for business purposes. Procurement is most commonly associated with businesses because companies must solicit services or purchase goods, usually on a relatively large scale.
Detailed explanation-3: -There are four types of procurement: Direct procurement, indirect procurement, goods procurement, and services procurement.
There is 1 question to complete.