Purchasing
In at least two pages (not including the title and reference pages), compose a research paper that addresses each of the criteria below and incorporates real-world examples to support your assertions. In your paper:
- Describe the ethical standards a purchasing manager or any employee should maintain.
- Describe why controlling purchasing expenses is far more critical than increasing sales an equal amount.
- Explain how saving $2,000 on purchases in an operation that averages a 4% profit margin is equivalent to the unknown amount of a sales increase.
- Explain the four elements of a binding contract and assess what they mean.
- Explain the goal of the purchasing department.
- Summarize why controlling the cost of purchases is important to the bottom line.
- List and describe the factors that are most important in writing purchase specifications.
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