BBR 503 & BUYING

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ASSIGNMENT

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1. 1 Give short notes on: Centralized buying, Decentralized buying and Consignment buying.

Answer:- Centralized buying:- A purchasing system in which all the departments of a company with a wide geographical distribution can make purchases through a common purchasing organization. Centralized purchasing aids finding the best deals with local vendors for the corresponding location of the company department. Avoids duplicity of orders and promotes benefits arising from the high volume bulk discounts, lower transportation and inventory management costs, organized transactions and improved vendor relationships.

1. 2 Explain on buying decision making and types of data required for market research.

Answer: – Buyer decision processes are the decision making processes undertaken by consumers in regard to a potential market transaction before, during, and after the purchase of a product or service. More generally, decision making is the cognitive process of selecting a course of action from among multiple alternatives. Common examples include shopping and deciding what to eat. Decision making is said to be a psychological construct. This means that

1. 3 Explain the steps in buying from foreign sources and reasons for buying from foreign sources.

Answer: – Trading with foreign suppliers raises a number of issues you may not be familiar with from trading within Canada. Typically, these include language differences, new payment methods and increased paperwork requirements.

However, with a little research and planning these challenges are easily overcome. Widening your purchasing to the international market can give you a

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