One Important Objective of Purchasing Is To

question 1

Multiple Choice

One important objective of purchasing is to:

• A) set quality standards for purchased items.
• B) be knowledgeable about new products.
• C) maintain numerous sources of supply.
• D) obtain the lowest prices on all purchased items.
• E) determine the processes that should be used.

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Definitions:

Alternative

A choice or option that is available as a substitute to the main choice.

Substitute

A substitute is an alternative or replacement for someone or something that fulfills a similar function or role.

Compromise

An agreement or settlement of a dispute where each party makes concessions.

Company Policy

Guidelines and rules that dictate how employees should behave within an organization.