What is procurement? Multiple Choice The purchasing of goods and services to meet the needs of the supply chain Includes the processes that control the distribution, maintenance, and replacement of materials and personnel to support the supply chain Includes activities that govern the flow of tangible, physical materials through the supply chain such as shipping, transport, distribution, and warehousing Occurs when distorted product-demand information ripples from one partner to the next throughout the supply chain

The purchasing of goods and services to meet the needs of the supply chain

Explanation:

Procurement is usually associated with the buying of goods required to meet the need of the organisation.

The procurement department of any organizations is charged with the responsibility of purchasing goods and services for the organizations; they fill up whatever void is existing in the goods and services needed by the organisation.

The purchasing of goods and services to meet the needs of the supply chain

Explanation:

Multiple Choice

A: The purchasing of goods and services to meet the needs of the supply chain

B: Includes the processes that control the distribution, maintenance, and replacement of materials and personnel to support the supply chain

C: Includes activities that govern the flow of tangible, physical materials through the supply chain such as shipping, transport, distribution, and warehousing

D: Occurs when distorted product-demand information ripples from one partner to the next throughout the supply chain.

First, we define procurement is the process a company goes through to source and acquire the goods and services it needs to fulfill its business model.

Option A is a correct as the goal of procurement is achieved since the company now possesses the goods and services that meet its needs.

Options B and C are only parts of supply chain process. The needs of the company are yet to be met.

Option D is actually a Bullwhip effect on the supply chain