Purchasing involves sourcing products and services. It can be time-consuming, expensive, and often make a significant difference to the ‘bottom line’.
Manufacturing organisations can spend over half their sales revenue on the purchase of materials, components and services, while the proportion for retailers is even higher. It can often be difficult to track down the most competitive suppliers. Some of the issues are:
- Identifying potential suppliers
- Obtaining the latest information about their capabilities
- Forming the right contacts
- Specifying your needs
- Negotiating prices and terms
- Drawing up and agreeing contracts
- Bidding and tendering
- Quality assurance
- Internal purchasing procedures
Find out how you can reduce prices and increase efficiency by purchasing electronically.
This information based on information which is Crown Copyright 2003