Answer to Question #272086 in Marketing for Nthabientle

Question

Using your examples, explain the importance of purchasing and supply in a company like Drip footwear

Answer 1

Purchasing is the process of acquiring goods and services for use in production of other goods and services by a company. It is essentially the process of acquiring raw materials. Purchasing is very important since it ensures that there is a smooth production of goods and services. Supply is the process of taking finished goods to the customer. This ensures that the company gets revenue. To a company like Drip footwear, purchasing is important since it ensures that raw materials used in the making of shoes such as leather, rubber latex and cotton fabric required in making of shoes and other foot wear is brought in the company for producing shoes. After the shoes are manufactured they are to the consumers, this is supply and it ensures that the company gets revenue back.