The final step in the purchasing cycle is

Question

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The final step in the purchasing cycle is to notify the selected supplier and implement the contract, which means the purchasing process has been completed and the goods or services will be obtained from the chosen supplier according to the terms and conditions of the contract. Developing the sourcing strategy, soliciting and evaluating bids, and collecting supplier information are important steps in the purchasing process, but they are not the final step.

The Final Step in the Purchasing Cycle Is