Describe why controlling purchasing expenses

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Reference no: EM132844750

Purchasing

1. Describe the ethical standards a purchasing manager or any employee should maintain.

2. Describe why controlling purchasing expenses is far more critical than increasing sales an equal amount.

3. 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.

4. Explain the four elements of a binding contract and assess what they mean.

5. Explain the goal of the purchasing department.

6. Summarize why controlling the cost of purchases is important to the bottom line.

7. List and describe the factors that are most important in writing purchase specifications.

Reference no: EM132844750

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