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In today’s scenario, the purchasing process has become a paramount concept to study. Not only because of the global scope of procurement but because students studying supply management need to apply this knowledge whenever they are given the assignments to write.
For students enrolled in supply chain management for completing their graduate, postgraduate, or doctoral degree, understanding this concept is vital. There are several imperative topics such as cost V/S value, direct and indirect procurement, use of RFQ, RFP, RFX, stakeholder management and more which needs an in-depth analysis for getting a deeper understanding of supply chain management.
My Assignment Services encompasses more than 2000+ highly-qualified academicians who have got a strong command over different subjects and have tried their hands in curating customized solutions for the reference purpose of students for the last ten years.
In the past decade, we have become one of the most favorite firms for students, whenever it comes to getting hands on the most reliable academic assistance for their assignments. Our purchasing process assignment help experts have always been at the services of students, whenever they needed us; we have not only helped with procurement and fundamentals assignments but also assisted them in deciphering all the crucial topics associated with these assignments.
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To write a flawless supply chain management (SCM) assessment, it requires to have concrete knowledge of the purchasing process. Hence, we will now discuss the process of purchasing in supply chain management. Most of the students think that there is no difference between purchasing and procurement. This is what creates a problem for them while writing their assignments. We will discuss it later. For now, let us focus on the purchasing process. As you can see in the image shown below, these are the steps that this process involves. Here, we are just concerned with the procurement process.
Purchasing is a process that covers the acquisition of materials, machinery as well as the devices or equipment that are needed. It is the work of the purchase sector to converse with different organizational units who all are involved in the process. These include the sellers, administration, and the finance department.
As per our procurement and fundamentals assignment help experts, it is the role and responsibility of the purchasing department to look into the purchase indents, quotation requests and the orders received. Commonly known as the purchasing instruments, these three elements are the fundamentals of procurement assignments.
This has always remained one of the most frequently asked questions that we have received in the last ten years. The reason behind this is students often get confused between purchasing and procurement and consider it to be exactly the same. However, in reality, it is not so.
While procurement is a strategic process, purchasing is a transactional function that occurs when processes like acquiring products and services come into play. Procurement is a broader concept that deals with researching, negotiation and planning about the product or service while purchasing focuses on the steps involved in ordering the products and services (catering to the orders and collecting the payment). Or in other words, we can simply say that purchasing is a small part of the procurement process.
Let us tabulate this to help you understand the difference between purchasing and procurement better.
So, this table clearly explains procurement V/S purchasing process. Our purchasing process assignment help experts have catered to a lot of different queries like this that students have sent us in the last few years. Our experts are prompt in furnishing students with appropriate solutions at the earliest possible time. Also, we are available 24*7 via the live one-on-one sessions to help clear all the doubts instantly.
We have never let any of the queries of students go unanswered from our end in the last decade. Having said that, a query on assignment samples is one of the most recurrent ones that we have received over the past. So, here we are with the latest fundamentals of procurement assignment sample that has been recently written by one of our experts. We have thousands of such samples in different topics and subjects to help students understand the concepts better.
So, as you can see, this is the BSBPMG518 assignment question that was received by us a couple of weeks ago. There can be a variety of questions concerning procurement fundamentals. In this question, all the ideas presented in the answer have relevance to supply chain management, supported by high-quality evidence. In this answer, our procurements and fundamentals assignment help experts have discussed several concepts like steps to be considered prior to planning procurement, vendor supply options, work breakdown structure, statement of work, budget review, service level agreements, resource analysis, and many more.
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