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What is Purchasing Management

Purchasing Management: It directs the flow of services and goods in a company and handles all data associating to contact with suppliers. Effectual purchasing management needs knowledge of supply chain, business and tax laws, inventory and invoice procedures, and transportation and logistics issues. Though a strong knowledge of products and services to be purchased is necessary, purchasing management professionals should also be able to plan, execute, and supervise purchasing strategies which are conducive to company productivity.

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