The primary goal of procurement management is to:

Question

Quizplus · Accepted Answer

The primary goal of procurement management is to purchase goods that meet specified requirements, which includes factors such as quality, quantity, timeliness, and price. The other options are not the primary goals of procurement management, although they may be secondary goals or considerations. For example, forming partnerships with key suppliers can help to build long-term relationships and ensure continuity of supply, reducing the risk of disruption to operations. However, this should not come at the expense of selecting the best supplier for a particular purchase. Similarly, sole-sourcing may be beneficial in some situations where there is a high level of specialization or exclusivity, but it can also reduce competition and limit opportunities for cost savings. Finally, while procurement can play a role in reducing new product development cycle time by ensuring that required materials and components are available when needed, this is not the primary focus of procurement management.

The Primary Goal of Procurement Management Is To