Question1. The five rights of purchasing refer to the buyer’s responsibility for purchasing products or services that are of the right QUALITY in the right QUANTITY, from the right SUPPLIER, at the right TIME, and at the right PRICE. Elaborate on these five rights of purchasing.
Question2. What are the major contributions of the purchasing function in a supply chain?
Question3. Differentiate between single sourcing and multiple sourcing.
Question4. What criteria should an organization take into consideration for centralization or decentralization of the purchasing function?
Question5. Why ethics is important to purchasing staff?