ITM 410 Lecture Notes - Lecture 12: Economic Order Quantity, Shipping List, Purchase Order

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 410
• Professor: Vanessa Magness

Document Summary

Purchasing manager usually performs major buying activities as well required admin duties of running a department. Many cases, there are professional buyers actually buying, and receiving supervisors who are responsible for incoming goods + signing the bill of lading. Purchasing process interacts with people, equipment, activities, and controls designed to create info flows and record that accomplish: Repetitive work routines of the purchasing dep / receiving dep. Support the decision need of those who manage the purchasing and receiving dep. Assist in the preparation of internal and external reports. Purchase process is part of the purchase-to-process for a merchandising firm. Typical flow in purchasing process might include everything except: receiving report to the cashier. Supply chain management: combo of processes and procedures used to ensure the delivery of goods & services to customer at the lowest cost while providing highest value to the customer. Reduced customer orders is not a potential benefit of scm.