What are the characteristics of the purchasing function? 2. Distinguish between the purchasing roles of: a) Buyer b) Stores supervisor

Here are the answers to your questions: 1. What are the characteristics of the purchasing function? The purchasing function is characterized by: Sourcing and selecting suppliers*: Identifying and evaluating potential vendors. Negotiating terms and prices*: Securing favorable agreements for goods and services. Ensuring quality and timely delivery*: Verifying that purchased items meet specifications and arrive when needed. Managing supplier relationships*: Building and maintaining good relationships with vendors. Cost-effectiveness*: Aiming to acquire necessary items at the best possible value. 2. Distinguish between the purchasing roles of: a) Buyer A Buyer is primarily responsible for the actual procurement process. This includes identifying needs, researching suppliers, negotiating contracts, placing purchase orders, and managing supplier performance to ensure the organization receives the right goods or services at the right price and quality. b) Stores supervisor A Stores supervisor is responsible for the management of inventory within the store or warehouse. Their duties involve receiving incoming goods, organizing storage, maintaining accurate stock records, issuing materials to other departments, and conducting stock counts. They ensure efficient flow and safekeeping of purchased items after they arrive. What's next? Send 'em! 📸