Organizational buying based on a written (or electronic) description of a product is called buying by ______________.

Question

Quizplus · Accepted Answer

Buying by purchasing specifications is when an organization writes a detailed description of the product they want to buy and then invites bids from potential suppliers. This method of buying is used when the organization knows exactly what it wants and needs to ensure that the product they receive meets their specific requirements. Inspection refers to the process of examining and testing products to ensure they meet quality standards, while a negotiated contract is when both parties come to an agreement on the terms and conditions of the purchase. Neither of these options accurately describe the process of buying based on a written or electronic product description.

Organizational Buying Based on a Written (Or Electronic) Description of a Product