The purchasing function, sometimes called _____, is an important part of any firm's production strategy.
A)delivery
B)coordination
C)buying procedure
D)procurement
E)recruitment

Question

Quizplus · Accepted Answer

The purchasing function is commonly referred to as procurement, which involves the process of selecting vendors, establishing payment terms, strategic vetting, selection, the negotiation of contracts, and actual purchasing of goods. It is an essential component of the supply chain that involves the acquisition of all goods and services that a company needs to operate.

The Purchasing Function, Sometimes Called _____, Is an Important Part