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    The document defines several key purchasing and inventory management terms: 1. A business or organization attempting to acquire goods or services to accomplish its goals is referred to as a purchasing organization. 2. Inventory generally refers to the materials in stock that are held by a business. 3. Forward buying occurs when retailers purchase units during a particular period, hold some in inventory, and then sell them in subsequent periods.

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    The document defines several key purchasing and inventory management terms: 1. A business or organization attempting to acquire goods or services to accomplish its goals is referred to as a purchasing organization. 2. Inventory generally refers to the materials in stock that are held by a business. 3. Forward buying occurs when retailers purchase units during a particular period, hold some in inventory, and then sell them in subsequent periods.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    7 views1 page

    This Study Resource Was: Purchasing

    Uploaded by

    Chuxie KANI
    The document defines several key purchasing and inventory management terms: 1. A business or organization attempting to acquire goods or services to accomplish its goals is referred to as a purchasing organization. 2. Inventory generally refers to the materials in stock that are held by a business. 3. Forward buying occurs when retailers purchase units during a particular period, hold some in inventory, and then sell them in subsequent periods.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    CBM112

    IDENTIFICATION

    1. A business or organization attempting to acquire goods or services to accomplish


    its goals.
    Purchasing

    2. Generally refers to the materials in stock.


    Inventory

    m
    er as
    co
    eH w
    o.
    rs e
    3. Occurs when retailers purchase units during a particular period, hold some of
    ou urc
    them in inventory, and then sell them in subsequent period.
    Forward Buying
    o
    aC s
    vi y re

    4. It focuses engineering, manufacturing and purchasing attention to one objective-


    equivalent performance at a lower cost.
    Value Analysis
    ed d
    ar stu
    is

    5. A systematic approach that uses multiple methods to control and dispose of


    Th

    waste.
    Integrated Waste Management
    sh

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