The purchasing plan should identify a company's quality requirements,its cost targets,and the criteria for determining the supplier.

Question

Quizplus · Accepted Answer

A purchasing plan is essential for ensuring that a company's procurement process is well-organized and efficient. It should clearly specify the quality standards that suppliers must meet, the financial constraints that the company has, and the criteria that will be used to evaluate potential suppliers. The plan will also help to ensure that the company selects the best suppliers available and achieves maximum value for its procurement budget. Therefore, the statement "The purchasing plan should identify a company's quality requirements, its cost targets, and the criteria for determining the supplier" is true.

The Purchasing Plan Should Identify a Company's Quality Requirements,its Cost