Analysis of Purchasing Parameters: Exploring Key Factors
Dr. Bipasha Maity
Abstract
The actions involved in procuring products and services from outside sources are included in the buying process, which is a crucial part of every corporate operation. The importance of buying factors in guaranteeing cost-effectiveness, supplier quality, and ontime delivery is examined in this essay. It explores important facets of buying, such as supplier selection, contract administration, negotiation, and supplier relationship management. Additionally, it emphasises the use of digital technologies and strategic sourcing in raising the effectiveness and transparency of buying. The study's conclusion emphasises the need for businesses to set strict buying guidelines in order to streamline their procurement procedures and achieve overall corporate success.
