The purchasing of supplies, services, and raw materials for use in the production process is called:
A) ordering
B) procurement
C) processing
D) inventory
E) none of these.

Question

Quizplus · Accepted Answer

Procurement refers to the process of purchasing supplies, services, and raw materials for use in the production process. Ordering refers specifically to placing requests for supplies and materials, while processing and inventory refer to different stages in the production process. None of these options cover the full scope of procurement. Therefore, B is the best choice.

The Purchasing of Supplies, Services, and Raw Materials for Use