Based on your reading and the lectures

Assignment

Please answer the following questions. Please make sure your answers are complete. Professional writing is important in the grading of the assignments.

1. Based on your reading and the lectures, what is the primary efficiency that drives the purchasing function?

2. Describe your understanding of the purchasing function. Please be detailed and specific in your response.

1. How does your understanding of the purchasing function fit within the contextual whole of the organization? Consider how Purchasing fits, functions, and operates within and supports and advances the overall objectives of your organization. Please be specific and detailed in your responses.

2. Prepare a flow chart that illustrates the inter dependencies of the purchasing function and other key functions within a manufacturing organization.

1. Discuss how the purchasing function impacts the organization's financial statements. Please provide examples and be detailed and specific.

2. What financial statements "tell the best story" about the effectiveness of the purchasing function within the organization?

1. Select 2-3 regulatory agencies and describe in detail how they impact the purchasing function.

2. What practical procedural techniques can be implemented to ensure compliance. Please be specific and detailed.