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Now, welcome to our world of Purchasing studies.
Purchasing in terms of business needs deals with the acquisition of goods and services needed to support the various activities of an organization, at the optimum cost and from reliable suppliers which involves certain techniques such as recognizing the need for goods and services, identifying and evaluating the available suppliers, negotiating the terms for price, quantity, and delivery, signing contracts and placing orders, receiving and accepting delivery, and authorizing the payment for goods and services.
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