In most firms, the group that tracks forecasts of prices and long term supplies of key materials is:
A)suppliers.
B)marketing.
C)purchasing.
D)accounting/finance.

Question

Quizplus · Accepted Answer

The group responsible for tracking forecasts of prices and long-term supplies of key materials is generally the purchasing department. This department is responsible for procuring the goods and services necessary for the firm's operations and must track market trends and supplier performance to make informed purchasing decisions. While accounting and finance may also play a role in tracking costs and financial projections, they are not typically responsible for tracking market trends and supplies of materials. Marketing may provide input on customer demand and product specifications, but they generally do not track material supplies in the same way as purchasing. Suppliers are not part of the firm and would not be responsible for tracking market trends and supplies within the firm.

In Most Firms, the Group That Tracks Forecasts of Prices