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Purchasing is the management of the acquisition process. This includes deciding which suppliers to use, negotiating terms and conditions, etc. It must satisfy the firm’s long-term needs and support the firm’s capabilities to produce goods and services. Elaborate on the purchasing function as part of supply chain management and its importance.

The globally connected economy and business environment requires adaption and agility for various supply chains. The business world integration of technology replaces traditional labor and an increase in the cost of materials, services, and good created the need to reassess purchasing roles and functions. (Carvalho & Cruz-Machado, 2011). New systems emerged to redefine supply management functions to contribute to profitability or a competitive advantage. Most purchasing functions revolve around the dynamic of obtaining the highest quality goods at the lowest cost. Purchasers acquire assets or services for their organizations or businesses for operational purposes and determine the best or specific requirement. Afterward, the purchaser selects a supplier, negotiate price, and then award a contract while providing oversight for accuracy and timeliness to meet the purchaser’s needs.

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The role of the purchaser demands training or business skills to identify the right supplier, goods, and services. Moreover, the purchaser incurs a strategic approach to evaluate suppliers on standards inclusive of quality and risk management controls and reputation and history in a respective industry. (Maslaric & Groznik, 2011). The purchaser, regardless if a manager or agent, researches the supplier through industry standing, trade journals, or trade shows opts for the opportunity to assess and examine a product, production quality, and distribution capabilities. Additionally, the purchasers must negotiate discounts, create value proposition aligned with stakeholders, and provide quality, professional, and useful feedback for continuous improvements. The functionality of the purchasing performs an essential part in the supply chain management for organizations or business.