The purchasing team examined all of its purchasing patterns in order to identify any irregularities or possible areas of cost savings in a little scheme the team liked to call:
A) internal auditing.
B) purchase consolidation.
C) spend analysis.
D) cooking the books.

Question

Quizplus · Accepted Answer

"Spend analysis" is the term commonly used to describe the process of examining purchasing data in order to identify areas where costs can be reduced or optimized. "Internal auditing" refers to a broader evaluation of company practices to ensure compliance and eliminate fraud, while "purchase consolidation" refers to the process of combining multiple purchases into a single order to streamline the procurement process. "Cooking the books" is a term used to describe fraudulent accounting practices and is not related to purchasing analysis.

The Purchasing Team Examined All of Its Purchasing Patterns in Order