In rapidly changing industries or those where purchased goods and services comprise a ____ portion of product or service costs,management usually recognizes the need to place purchasing in a/an ____ position in the organizational hierarchy.

Question

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In industries where a large portion of costs come from purchased goods and services, purchasing is recognized as a critical function and is often placed at a higher position in the organizational hierarchy to reflect its importance. This allows for better communication and coordination with other functions such as engineering, production, and marketing, and can lead to better overall performance and competitiveness.

In Rapidly Changing Industries or Those Where Purchased Goods and Services