Procurement is the act of obtaining goods or services, typically for business purposes.
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What are the four main roles of procurement in a business?
- Identifying goods and services to buy
- Choosing suppliers
- Ordering goods and services.
- Receiving deliveries from suppliers
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How can the time of year affect a business to buy from suppliers?
The time of year can affect how much the business wants to buy from the supplier, such as an ice cream shop buying stock for summer is larger compared to buying stock for winter.
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How can changes in technology affect a business to buy from suppliers?
For some products technology changes rapidly. and so the business wants to keep up in order to do this its suppliers will also have to keep up to supply with the most recent date of tech.
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How can changes in fashion & lifestyle affect a business to buy from suppliers?
Fashion and Lifestyle can affect how a business buys from a supplier, to how trendy it is the specific material it would use to make the products trendy such as becoming vegan for shops etc.
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Explain why cost of supplies/stock affect which supplier to use.
Cost is a vital consideration, if the business can get it cheaply then it can maintain higher profit margins. Often, the more products businesses buy from suppliers, the more power they have to negotiate discounts.
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Explain why quality of supplies/stock affect which supplier to use.
The quality of stock and supplies are an factor to consider but the customer expect it to be as of good quality standard so when a business sells its products all parts must be kept to good quality or the reliability of the product will go down harming th
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Explain why delivery times and lead times affect which supplier to use.
Delivery times need to be delivered on time, if they have late deliveries this affects the manufacturing process slowing production down and may lose some sales.
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Explain why minimum order size affect which supplier to use.
Having a low minimum order size can be beneficial to a business and control how much supplies they need due to demand.
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Explain why customer service & reliability affect which supplier to use.
Having a good customer service and reliability is good for the business as they can easily contact about any problems and resolve them quickly.
Reliability is also good and that the links are constantly being on time and stocked up if a shop has no suppl
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Other cards in this set
Card 2
Front
What are the four main roles of procurement in a business?
Back
- Identifying goods and services to buy
- Choosing suppliers
- Ordering goods and services.
- Receiving deliveries from suppliers
Card 3
Front
How can the time of year affect a business to buy from suppliers?
Back
Card 4
Front
How can changes in technology affect a business to buy from suppliers?
Back
Card 5
Front
How can changes in fashion & lifestyle affect a business to buy from suppliers?
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