Which of the Following Is the Objective of Purchasing

question 184

Multiple Choice

Which of the following is the objective of purchasing?

• A) Routinely replenish the stock.
• B) Ensure that required materials are available when they are needed, in the proper amounts, and at minimum cost.
• C) Select suppliers.
• D) Determine the facility's level of output.
• E) Control inventory and product quality.

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Definitions:

Visualizing And Brainstorming

A method used in planning and problem-solving that involves picturing a scenario or solution and generating creative ideas through collaborative discussion.

Representativeness Heuristic

A cognitive shortcut where individuals assess the likelihood of an event based on how closely it resembles their mental stereotypes or categories.

Previously Existing Value

The worth or importance of something that was recognized or established before the current situation.

Framing Error

A mistake made when the context or way in which information is presented leads to incorrect conclusions or decisions.