1 page/≈275 words
Business & Marketing
Discussion: Business and Marketing conventional purchasing cycle (Coursework Sample)
The purchasing department is a vital component of the entire purchasing cycle. Identify the steps in the conventional purchasing cycle and describe the differences between buying and purchasing. Provide examples from the text and/or your professional experiences. Give at least one specific example where companies have implemented technologies to streamline the purchasing process. There are three general types of supplier evaluation described in the text in Chapter 8. Choose one method and describe the details of the method. Use examples from the text and/or your professional experience on advantages and disadvantages of the system. References Benton, W.C. Jr. (2010), Purchasing and supply chain management (2nd edition), New York, NY: McGraw-Hill Irwin. source..
Business and Marketing Name: Institution: The conventional purchasing cycle start with a product design which comes from research and development then ends with removal of the product from the market. In this paper am going to identify the various steps in the conventional purchasing cycle and also describe the differences between buying and purchasing. Some of the stages include research, development, maturity, decline and degeneration from the market. Introduction is concerned with creating new products from the time they are conceived to the time they are introduced in the market. Since many ideas never get to the promotion stage and must go through a period of monopoly and the competitors begin to copy your ideas to improve their product...
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