Which of the following best explains 'purchasing efficiency'?
A) The extent to which, by choosing a certain course of action, a previously established goal or standard is met.
B) This refers to the relationship between planned and actual costs.
C) The savings made against budget allocation.
D) The longer term consequences of the activity.

Question

Which of the following best explains 'purchasing efficiency'? 
A) The extent to which, by choosing a certain course of action, a previously established goal or standard is met. 
B) This refers to the relationship between planned and actual costs. 
C) The savings made against budget allocation. 
D) The longer term consequences of the activity.

Quizplus · Accepted Answer

Purchasing efficiency refers to how well the actual costs align with the planned costs, indicating effective management of resources in procurement.

Which of the Following Best Explains 'Purchasing Efficiency