Question
What are the objectives of purchasing? Explain the purchasing cycle in detail.
Answer :
Word Count : 1287
________ _________ ______ ________ ______ __________ ___ _____ _______ ___ ____ _________.
______ ______ ______ ______ _________.
___ ____ ________ _____ __________ _____ ______ ______ ______ ______ _________ ___.
________ ___ ______ _________ __________ ______.
______ ___ ________ ________ _______ _____ _____ _________ ____.
________ _____ ________ ______ _______ ______ ____ ________ ___.
________ _________ ____ _____ ___ ____ _________ _____ __________ _______ _____.
________ __________ ____ ___ _____ __________ __________ _________.
________ ____ ___ _____ __________.
_____ __________ ____ __________ ________ ____.
__________ ________ __________ __________ _________ ________ ___ _____ ________ _________ _______ ______.
___ ____ ____ ________ ___ _____ __________ _________.
__________ ________ ____ _________ _______ _______ ____ ____ ___.
_______ _____ ___ _____ _____ _______ _________ ____ _______ __________ ________.
__________ ____ ___ __________ ________ _____ ____ ___ ____ ______ ___.
_____ _____ ___ ________ _______ ___ ___ _____.
_____ _____ _______ _____ _____ ______ _______ _______ _____ ________.
____ ____ ___ ____ _________ _______ ________.
___ ________ _______ ______ ____ _____ _____ ____ __________ __________.
_____ ___ ____ _______ _________ ________ _____ ________ _______ ______.
_____ ______ ________ ________ _________ __________ ________ __________ __________ ______ _________.
_______ _______ __________ ____ ____ ____ ____ _________ ___ ___ _____.
___ ____ _________ _______ _____ _______ __________ ___.
____ _______ ______ _______ _________.
_____ ___ ______ __________ _______ _______.
_________ _____ ______ _________ ____ _________.
______ _________ _______ ____ ____ _________ ________.
______ ____ _____ ____ ________ ___ ____ _____ ______ ________.
___ _______ ________ ____ ___ ________ ________ _______.
_________ _____ ___ _________ ______.
________ _________ __________ ____ ______ ___ _________ _____ ___ ___ _________ _________.
__________ _________ __________ _____ ____ _______ _____ ____ _________ ____ _____ ________.
__________ ______ ___ _____ ___ __________ _____ ____ ________ _________.
_____ ______ _______ __________ _____ _________ ______ __________ _______ __________ ______.
_________ ______ ________ _______ ______ _____ _______.
____ __________ ______ ______ _________ _______ _________.
_______ ____ _______ ______ ________ ____ ______ _______ ________ ______ _______ __________.
____ ____ _____ ______ ____ ___ ______ ______ __________ ________ __________ ____.
________ _____ ________ ________ _________ ___ _____ __________ _____.
_____ _______ ______ ___ ________ ___ _______ ____.
_____ _________ _________ ________ _______.
____ ____ _____ _________ _____.
________ ___ __________ _______ _________ ________ __________ ___ ___ _____.
___ ________ _______ ____ ___ _________ ________ ____ ______ _________.
____ __________ ________ _______ ____ ________ _______ _________.
_____ ____ ________ ___ _____ ______ ___.
______ ___ ____ _________ __________ ______ ______ __________ _________ __________.
__________ ________ _________ _________ _______ _______ __________ _______.
______ ________ __________ ________ ____.
____ _____ ________ _____ ____ ___ __________ ______ _________.
_________ ________ ___ _________ ______.
__________ __________ ___ _________ _________ ______ ___ ______ ______.
__________ ___ __________ _______ ________ ______ _________ ___ _____.
___ ________ ________ _____ _________ ____ ______.
_____ __________ ____ ______ ________ ________ ___ ____ ___ __________ ________ _________.
__________ __________ __________ _____ _______ ____ _____ ____ _____.
________ _____ ___ _______ ___ __________ ___ ____.
______ _______ _____ _____ ___ _____ __________ ____ _______ ________ ________.
______ ______ _______ ______ _____ _____ _______ ____ ____ _____ _______ ___.
______ ___ _____ _______ _____ _______ __________ __________ ________.
________ _________ __________ _________ _______ _________ ___.
________ ________ _________ ______ __________ ________ _____ _______ ________ ___ ________.
_________ _____ __________ ____ _______ __________ _____ _______ ______.
_____ ___ ___ _____ _______ ______ _______ _____ ____ __________ __________ ________.
______ _________ __________ ____ ___ _______ _________.
______ ____ _______ ___ __________.
____ ________ __________ __________ ______ _______ _______ ___.
__________ ____ _________ _____ ________ ______ __________ _____ ________.
______ ________ _______ _______ __________.
___ _______ ________ ____ ________ __________ _________ ________ ___ ______ _________.
___ _______ ______ ______ _________.
_______ _________ ___ ___ _________ ______ __________ ________ _________.
________ ________ ___ ______ ________ _____ __________.
_______ ________ ______ ________ __________.
_______ _______ ________ _______ _________ _______ __________.
______ ___ ________ _______ _______.
______ ___ _________ _____ ____ ______ _____.
__________ ______ ____ _______ __________ _____ ________ ________ ______ ___ _____.
____ _________ _______ ______ ________ _________ ____ ______ ____ ______.
_______ ______ _________ __________ ______ ______ _____ ____ _______.
______ ____ __________ __________ ____ ______ ___ ____ _____ _______.
___ ___ _____ _____ ________ _______ ________ ______ _________ ________ _________ ________.
_________ _____ __________ _____ __________ ________ ____ __________ ______ __________.
_________ _________ _____ _________ ________.
_________ ____ __________ __________ ______ ______ _____ ____ ___ ________.
________ ________ _____ ________ __________ ______ __________ _______ __________ ____ _______ _____.
________ _______ __________ ___ ___ _____ _______ ___ _____ ________.
___ __________ __________ _____ ______.
________ _____ _____ ___ ____ _______ ____ _______ ____ __________.
________ _____ ______ ________ ______ _________ ________ _______ __________ _____ __________ _____.
__________ ____ ________ ___ _________ ____.
___ _____ ________ _______ _______ ____ _______ _______ ______.
______ ________ _______ _________ _____ _____ _____ _____ _________.
_________ _________ ______ ____ _____ ___ ____ ________ __________ ___ ______ _______.
_________ ________ ________ __________ ____ _____ ____ _____ ______ _________.
_______ __________ _________ ____ ________ ___ ________ ________.
_______ _________ ___ ____ ______ __________ _______ _________ _______ _________ ___ ________.
_____ _______ _______ _____ _________.
____ ________ _________ _________ ___ ___ _________ ______ ________.
__________ _____ __________ _____ ______ _________.
___ ___ __________ ____ ____ _____ _______ ______ _________ __________ ____.
__________ ____ ___ _____ _______ _______ _______ _______ ___.
________ ________ ________ ___ ____ _________ ____.
_________ ________ ___ ______ ____ _______ ______ _________ ___ ________ _______ _____.
__________ _______ _____ ___ _________ _________ ______ ______ ___ ______.
____ ___ ___ ______ _____ __________ ________ ____ ______.
__________ ____ ___ ______ ________.
______ ______ _____ _________ ____ ___.
______ ________ __________ ______ __________ ____ _______ ____ __________ ___ ______.
_____ _____ ____ ___ ___ _________ __________ _________ __________ ____ ___ ______.
_____ __________ ______ ______ _______ _______ ____ ___ ____.
__________ ____ ____ ________ ________ ____ ______ _____ ______.
__________ _______ ______ _____ _________ ____ ____ ___ ________ _____.
Skip in 10
Purchasing is a critical function in any organization, and in agribusiness, it plays an even more vital role because of the unique nature of agricultural operations. It involves the acquisition of goods, services, and materials necessary for the smooth functioning of a business. The primary objectives of purchasing are to ensure that the right quality of goods and services is obtained at the best possible price, while ensuring that the required materials are available at the right time, place, and in the right quantities. Purchasing is not just about buying but about acquiring the most appropriate resources to optimize the supply chain and ensure that production processes run efficiently. The main objectives of purchasing in agribusiness are: 1. Cost Management: One of the primary objectives is to acquire the required materials and supplies at the most competitive price. This objective is driven by the need to maintain profitability and optimize the cost structure in a highly competitive and often price-sensitive market. For instance, in agribusiness, the cost of fertilizers, seeds, and machinery can have a significant impact on the overall budget. Therefore, purchasing departments are focused on negotiating the best prices with suppliers and seeking opportunities for cost reductions without compromising on quality. 2. Quality Assurance: It is essential that the purchased goods meet the necessary quality standards. In the agricultural sector, this is especially crucial since the quality of raw materials such as seeds, fertilizers, and irrigation equipment directly impacts crop yields and farm productivity. Purchasing teams must ensure that the goods purchased meet the specific standards and requirements of the production process, avoiding issues such as crop failure or poor harvests caused by subpar materials. 3. Supply Chain Efficiency: The timing of purchases is another crucial objective. Procurement must ensure that the materials are
_________ ________ ______ _________ ____ _______.________ _________ ______ ________ ______ __________ ___ _____ _______ ___ ____ _________.
______ ______ ______ ______ _________.
___ ____ ________ _____ __________ _____ ______ ______ ______ ______ _________ ___.
________ ___ ______ _________ __________ ______.
______ ___ ________ ________ _______ _____ _____ _________ ____.
________ _____ ________ ______ _______ ______ ____ ________ ___.
________ _________ ____ _____ ___ ____ _________ _____ __________ _______ _____.
________ __________ ____ ___ _____ __________ __________ _________.
________ ____ ___ _____ __________.
_____ __________ ____ __________ ________ ____.
__________ ________ __________ __________ _________ ________ ___ _____ ________ _________ _______ ______.
___ ____ ____ ________ ___ _____ __________ _________.
__________ ________ ____ _________ _______ _______ ____ ____ ___.
_______ _____ ___ _____ _____ _______ _________ ____ _______ __________ ________.
__________ ____ ___ __________ ________ _____ ____ ___ ____ ______ ___.
_____ _____ ___ ________ _______ ___ ___ _____.
_____ _____ _______ _____ _____ ______ _______ _______ _____ ________.
____ ____ ___ ____ _________ _______ ________.
___ ________ _______ ______ ____ _____ _____ ____ __________ __________.
_____ ___ ____ _______ _________ ________ _____ ________ _______ ______.
_____ ______ ________ ________ _________ __________ ________ __________ __________ ______ _________.
_______ _______ __________ ____ ____ ____ ____ _________ ___ ___ _____.
___ ____ _________ _______ _____ _______ __________ ___.
____ _______ ______ _______ _________.
_____ ___ ______ __________ _______ _______.
_________ _____ ______ _________ ____ _________.
______ _________ _______ ____ ____ _________ ________.
______ ____ _____ ____ ________ ___ ____ _____ ______ ________.
___ _______ ________ ____ ___ ________ ________ _______.
_________ _____ ___ _________ ______.
________ _________ __________ ____ ______ ___ _________ _____ ___ ___ _________ _________.
__________ _________ __________ _____ ____ _______ _____ ____ _________ ____ _____ ________.
__________ ______ ___ _____ ___ __________ _____ ____ ________ _________.
_____ ______ _______ __________ _____ _________ ______ __________ _______ __________ ______.
_________ ______ ________ _______ ______ _____ _______.
____ __________ ______ ______ _________ _______ _________.
_______ ____ _______ ______ ________ ____ ______ _______ ________ ______ _______ __________.
____ ____ _____ ______ ____ ___ ______ ______ __________ ________ __________ ____.
________ _____ ________ ________ _________ ___ _____ __________ _____.
_____ _______ ______ ___ ________ ___ _______ ____.
_____ _________ _________ ________ _______.
____ ____ _____ _________ _____.
________ ___ __________ _______ _________ ________ __________ ___ ___ _____.
___ ________ _______ ____ ___ _________ ________ ____ ______ _________.
____ __________ ________ _______ ____ ________ _______ _________.
_____ ____ ________ ___ _____ ______ ___.
______ ___ ____ _________ __________ ______ ______ __________ _________ __________.
__________ ________ _________ _________ _______ _______ __________ _______.
______ ________ __________ ________ ____.
____ _____ ________ _____ ____ ___ __________ ______ _________.
_________ ________ ___ _________ ______.
__________ __________ ___ _________ _________ ______ ___ ______ ______.
__________ ___ __________ _______ ________ ______ _________ ___ _____.
___ ________ ________ _____ _________ ____ ______.
_____ __________ ____ ______ ________ ________ ___ ____ ___ __________ ________ _________.
__________ __________ __________ _____ _______ ____ _____ ____ _____.
________ _____ ___ _______ ___ __________ ___ ____.
______ _______ _____ _____ ___ _____ __________ ____ _______ ________ ________.
______ ______ _______ ______ _____ _____ _______ ____ ____ _____ _______ ___.
______ ___ _____ _______ _____ _______ __________ __________ ________.
________ _________ __________ _________ _______ _________ ___.
________ ________ _________ ______ __________ ________ _____ _______ ________ ___ ________.
_________ _____ __________ ____ _______ __________ _____ _______ ______.
_____ ___ ___ _____ _______ ______ _______ _____ ____ __________ __________ ________.
______ _________ __________ ____ ___ _______ _________.
______ ____ _______ ___ __________.
____ ________ __________ __________ ______ _______ _______ ___.
__________ ____ _________ _____ ________ ______ __________ _____ ________.
______ ________ _______ _______ __________.
___ _______ ________ ____ ________ __________ _________ ________ ___ ______ _________.
___ _______ ______ ______ _________.
_______ _________ ___ ___ _________ ______ __________ ________ _________.
________ ________ ___ ______ ________ _____ __________.
_______ ________ ______ ________ __________.
_______ _______ ________ _______ _________ _______ __________.
______ ___ ________ _______ _______.
______ ___ _________ _____ ____ ______ _____.
__________ ______ ____ _______ __________ _____ ________ ________ ______ ___ _____.
____ _________ _______ ______ ________ _________ ____ ______ ____ ______.
_______ ______ _________ __________ ______ ______ _____ ____ _______.
______ ____ __________ __________ ____ ______ ___ ____ _____ _______.
___ ___ _____ _____ ________ _______ ________ ______ _________ ________ _________ ________.
_________ _____ __________ _____ __________ ________ ____ __________ ______ __________.
_________ _________ _____ _________ ________.
_________ ____ __________ __________ ______ ______ _____ ____ ___ ________.
________ ________ _____ ________ __________ ______ __________ _______ __________ ____ _______ _____.
________ _______ __________ ___ ___ _____ _______ ___ _____ ________.
___ __________ __________ _____ ______.
________ _____ _____ ___ ____ _______ ____ _______ ____ __________.
________ _____ ______ ________ ______ _________ ________ _______ __________ _____ __________ _____.
__________ ____ ________ ___ _________ ____.
___ _____ ________ _______ _______ ____ _______ _______ ______.
______ ________ _______ _________ _____ _____ _____ _____ _________.
_________ _________ ______ ____ _____ ___ ____ ________ __________ ___ ______ _______.
_________ ________ ________ __________ ____ _____ ____ _____ ______ _________.
_______ __________ _________ ____ ________ ___ ________ ________.
_______ _________ ___ ____ ______ __________ _______ _________ _______ _________ ___ ________.
_____ _______ _______ _____ _________.
____ ________ _________ _________ ___ ___ _________ ______ ________.
__________ _____ __________ _____ ______ _________.
___ ___ __________ ____ ____ _____ _______ ______ _________ __________ ____.
__________ ____ ___ _____ _______ _______ _______ _______ ___.
________ ________ ________ ___ ____ _________ ____.
_________ ________ ___ ______ ____ _______ ______ _________ ___ ________ _______ _____.
__________ _______ _____ ___ _________ _________ ______ ______ ___ ______.
____ ___ ___ ______ _____ __________ ________ ____ ______.
__________ ____ ___ ______ ________.
______ ______ _____ _________ ____ ___.
______ ________ __________ ______ __________ ____ _______ ____ __________ ___ ______.
_____ _____ ____ ___ ___ _________ __________ _________ __________ ____ ___ ______.
_____ __________ ______ ______ _______ _______ ____ ___ ____.
__________ ____ ____ ________ ________ ____ ______ _____ ______.
__________ _______ ______ _____ _________ ____ ____ ___ ________ _____.
IGNOU ACADEMY
Your IGNOU journey, made easier.
- Solved Assignments
- Study Notes
- Guess Papers
- Question Papers
Continue Reading — It's Free
Sign in with Google to unlock more of this answer.
✓ Free access
✓ Unlock up to 60% of the answer
✓ No payment required
✓ Unlock up to 60% of the answer
✓ No payment required
Quick Google sign-in. No separate registration form.