Management

PURCHASING

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To most hospitality students, the term “purchasing” means paying for an item
or service. This conveys a far too restrictive meaning because it fails to suggest
the complete scope of the buying function. Perhaps the terms “selection” and
“procurement” are better.
“Selection” can be defined as choosing from among various alternatives on
various levels. For example, a buyer can select from among several competing
brands of beef, a specific quality of beef, a particular beef supplier, and a fresh
or processed beef product. One buyer may not perform all these activities—make
all these choices—at one time. But he or she will be involved in most of them at
some level.
“Procurement,” as opposed to “selection,” can be defined as an orderly, systematic
exchange between a seller and a buyer. It is the process of obtaining
goods and services, including all of the activities associated with determining the
types of products needed, making purchases, receiving and storing shipments,
and administering purchase contracts.

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Detail Information

Series Title

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Call Number

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Publisher

: ., 2002

Collation

1-625

Language

English

ISBN/ISSN

0-471-38933-1

Classification

NONE

Content Type

-

Media Type

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Carrier Type

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Edition

Fifth Edition

Subject(s)

PURCHASING

Specific Detail Info

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Statement of Responsibility

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Other version/related

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