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Questions and Answers
What does procurement focus on?
What does procurement focus on?
- Sourcing activities, negotiation with suppliers, and strategic selection of goods and services (correct)
- Promoting products and services to customers
- Quality control and production efficiency
- Internal management processes
What is the importance of the procurement function?
What is the importance of the procurement function?
- Conducting financial audits and reporting
- Managing customer relationships and marketing strategies
- Ensuring a continuous flow of materials, products, and services while seeking cost reduction and maintaining quality levels (correct)
- Overseeing employee training and development
What are the key inputs provided by the procurement department?
What are the key inputs provided by the procurement department?
- Employee benefits and compensation packages
- Raw materials, intermediate goods, finished goods, and capital goods needed for business operations (correct)
- Marketing materials and promotional items
- Research and development resources
In the example of cereal manufacturing, what role does procurement play?
In the example of cereal manufacturing, what role does procurement play?
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What does the procurement function seek to minimize?
What does the procurement function seek to minimize?
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