The supply chain area that is responsible for determining what to buy, how much to buy, and how to manage the suppliers is known as _____.

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03-07-2021
Business

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The supply chain area that is responsible for determining what to buy, how much to buy, and how to manage the suppliers is known as _____.

Sagot :

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Oseni Oseni · Answer 1 · 2021-07-06T21:10:45-04:00

Answer:

Procurement

Explanation:

The supply chain area that is primarily concerned with what to buy, how much to buy, and how to manage suppliers for optimum service delivery is known as procurement.

The supply chain generally refers to the processes and resources involved in the supply of products or services to the final consumers. It includes procurement, planning, and logistics.

The procurement has to the with the purchase of materials. It includes the quantity of materials to buy and at what price as well as how to manage relationships with suppliers for the benefit of the firm. Planning has to do with synchronizing the supply of material with production in relation to the demand for the final product while logistic has to do with optimizing the delivery process to minimize cost and time.

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