The overall importance of the purchasing function is increasing,particularly for firms that compete in industries characterized by worldwide competition and rapid change.

Question

Quizplus · Accepted Answer

The statement is true. The purchasing function is becoming more important for firms that compete in global markets and face constant changes in industry dynamics. As supply chains become more complex and global, purchasing professionals play a crucial role in ensuring the timely delivery of high-quality goods and services at competitive prices. Additionally, they help to manage risks associated with supply disruptions and ensure compliance with ethical and regulatory standards.

The Overall Importance of the Purchasing Function Is Increasing,particularly for Firms