Procurement Process: Stages and Best Practices
Stages in the Procurement Process
The procurement process involves planning purchases closely related to the needs of customers and conducting sales of previously incorrectly acquired items. A poor supplier selection can lead to increased transport costs, poor quality of products, unreliability, uneconomical prices, and delays in delivery times.
Stages of the Shopping Circuit
Start the process:
- Knowledge of the market
- Assess the needs and conditions for their satisfaction
Preparation of the purchase:
- Request
Understanding Banking Transactions: Assets, Liabilities, and Services
Understanding Banking Transactions
Classify the following financial transactions according to whether they are asset, liability, or neutral.
Credit account: asset
Direct debit of a telephone bill: neutral
Deposit of a cheque: neutral
Collection management of bills of exchange: neutral
Bank transfer: neutral
Loan: asset
Fixed-term deposit: liability
Leasing: asset
Factoring: asset
Savings account: liability
Currency exchange: neutral
Taking effects for your discount: asset
Differences Between Liability and Asset
Understanding Business Structures, Operations, and Key Elements
Business Structures and Operations
Key Concepts
SMEs: Employment creation that meets market needs is often less attractive for large, medium, and small enterprises.
Operation: A system where a group of people work towards a common objective, maximizing their efforts by explaining the reason for its creation and determining a mission.
Company: A socio-economic organization for profit that coordinates working capital and directs production, performing a useful function while requiring the common good.
Read MoreMonetary Policy and the European System of Central Banks
Monetary Policy and the Central Bank
Effective January 1, 1999, Spain incorporated the Euro (€) as its national currency. Spain forms part of the Eurozone, and monetary policy became the responsibility of the European System of Central Banks (ESCB), which is composed of the central banks of the countries that have adopted the Euro as their currency, and the European Central Bank (ECB).
Functions of the European System of Central Banks
- Promote and implement monetary policy.
- Ensure the proper functioning
Controversial Ads: WWF and McDonald’s Case Studies
World Wildlife Fund (WWF)
Introduction
We have seen some controversial ads. Here, I am going to show you another example. This example is a WWF ad that connected the 9/11 attacks with the power of nature, creating controversy. Firstly, I want to explain to you what the WWF is. The WWF is an international non-governmental organization dedicated to the conservation of nature. They work on projects focusing on biodiversity conservation, environmental sustainability, and promoting practices that reduce
Read MorePost-Fordism: Management & the Modern Enterprise
Post-Fordism: Management and the Modern Enterprise
Companies active in the new, post-Fordist, economy have often broken away from the traditional corporate model. If you want to make significant profits today, you must be prepared to be very flexible in your investments and production. Instead of tying up investments in factories or one type of business, companies diversify into multiple types of business and roll their investments around from one sphere to another as it makes sense. Several key
Read More