Functions Of Purchase Agreement
One of the main functions of procurement is the purchase of goods, services or works from external sources. It plays an important role in the overall business strategy of the company, as it requires strategic planning to acquire these things at the best possible cost. It should obtain from the right source at the right time the right quality of materials in the right quantity. Often, state, local, or federal laws require government authorities to make certain purchases as part of a competitive bidding process. Some private companies use the same practice and require their purchasing department to solicit and evaluate offers before choosing the best company to provide everything they need.