The purchasing cycle involves collecting,cleansing,and analyzing data regarding expenditures with the purpose of reducing costs,improving efficiency,and monitoring compliance with purchasing policies.

Question

Quizplus · Accepted Answer

The description provided is more aligned with the concept of "spend analysis" rather than the "purchasing cycle." The purchasing cycle typically involves steps like identifying needs, selecting suppliers, and managing orders.

The Purchasing Cycle Involves Collecting,cleansing,and Analyzing Data Regarding Expenditures with the Purpose