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12 February, 16:58

Definition of principal of purchasing

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  1. 12 February, 17:23
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    The principals of purchasing are the guidelines for the buyer to know the optimal things to consider when buying.

    Explanation:

    There are five accepted principals of purchasing and they are defined here as such:

    The Right Quality: The person must know the difference between bad quality and good quality of product they are buying.

    The Right Quantity,: What is the optimal amount of product that is needed?

    The Right Price: They must know if the price they are buying it for is good.

    The Right Place: Is there a better place to buy the same product from that can be more trustworthy.

    At the Right Time: The right time to buy products whose quality can fluctuate.
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