FUNCTION/ROLE OF A PURCHASING DEPARTMENT
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To buy at the right time, right price and right terms
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Ensuring the continuity of supply
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Selection and evaluation of suppliers/vendors
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Aware of long-term and short term effects
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Preserving and enhancing reputation of company
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Aware of all supply options
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Maintain stock level
MAJOR PURCHASING ACTIVITIES
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Obtaining and analyzing quotations of vendors/suppliers
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Interview representatives and correspondence
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Deciding best buying terms and conditions
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Negotiating and checking contracts
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Scheduling orders and following up
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Work with finance department to obtain discount, matching invoices, verify receipt, purchase journal entry,passing of invoices for payment and settlement of accounts
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Disposing of surpluses
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Other activities like assisting with preparation of material expenditure/purchasing budget.
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