Explain the importance of supplier appraisal, Financial Management

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QUESTION

(a) List the five elements of the purchasing mix.

(b) Describe briefly the four essential elements of a legally binding contract.

(d) Compare and contrast between bid security and performance security.

(e) Describe two methods used for pricing the issue of raw materials to production.

(f) Explain the importance of supplier appraisal.

(g) Explain briefly the Just in Time concept.

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