The role of procurement (AQA GCSE Business): Flashcards

Business function selecting & managing suppliers for goods & services

Business providing goods/services to another company

Stock amounts for finished goods based on expected sales period

Productive efficiency decreased - not producing enough per worker

Stock control minimising inventory; receive supplies when needed

Reliable suppliers delivering materials precisely when needed

Maintaining large stock amounts for raw materials & finished goods

Demand unpredictable, suppliers far/unreliable, storage manageable

In highly competitive industries with tight profit margins

Allows buying stock & paying later, helping cash flow

Planning & controlling distribution/storage of goods & services

All activities getting products/services from supplier to customer

Right quantity, place, time, quality at minimum cost