The purchasing cycle illustrates four basic steps

Question

The Purchasing Cycle, illustrates four basic steps: origination and notification of need; finding a source or supplier; issue of purchase order and follow up; and completion - receipt payment for the subject matter of the cycle. Using these steps as a framework, describe in detail the ‘Purchasing Cycle' in your chosen organization and expand on the various procedures/ processes that occur at the various stages.

Additional information

The problem related to Marketing and it explains about purchasing cycle and its basic steps and expanding these basic steps in an organization.

Word limit: 1000

Answer 1

There word limit till 1000 additionally you have to read all basic steps via that illustrate them The Purchasing Cycle illustrates four essential steps: origination and notification of require; discovering a source or supplier; problem of purchase order and follow up; and completion - receipt payment for the subject matter of the cycle. Using such steps as a framework, illustrate in detail the ‘Purchasing Cycle' in your chosen organization and expand on the various procedures/ processes that take place at the various stages.