Summarize the key features, advantages, and disadvantages of "purchasing by cash and carry" and "purchasing by paid reserve".

Here's a summary of the notes:

PURCHASING BY CASH AND CARRY
This method is used by small and medium establishments whose orders are not large enough for regular delivery. The purchaser visits a wholesale warehouse, selects products, compares prices, pays immediately (cash or cheque), and transports the goods themselves.

• Advantages:
  • Competitive prices.
  • No minimum order levels.
  • Allows frequent visits and low stock levels.
  • Access to a wide range of products for selection.
• Disadvantages:
  • No delivery services.
  • Credit is not available.
  • Product availability can be restricted occasionally.

PURCHASING BY PAID RESERVE
This method ensures a continuous supply of important menu items for restaurants. Caterers buy large quantities of a commodity in advance to cover future needs.