PURCHASING Essay Example | Topics and Well Written Essays - 2000 words

PURCHASING - Essay Example We can say that when we need to perform any specific task regarding some sort of activity, we need to have some related goods and services available for us in order to perform that activity. And attainment of those goods and services is referred to as purchasing. If we talk about hotels and restaurants, purchases mean to acquire those goods and services which we need to have in our hands for the purpose of successful operations of the restaurant. If these goods and services are to the management of the restaurant right at the time when they are needed, the restaurant will be able to operate its functions efficiently and effectively. But when they are not available or accessible for the management of the restaurant at the desired time, it will become very difficult for the restaurant to maintain its level of reliability and public’s confidence stable. So we can say that purchasing is one of the most important factors which are to be taken into consideration by the management of the restaurant or any other organization in order to perform all the related functions successfully. Purchasing, in the present era, has undergone various changes and developments in several organizations. If we talk about restaurants, management of the process of purchasing has gained great importance for maintaining a stabilized level of supply to demand management. If we talk about the required set of skills and abilities for the management of a restaurant, we should say that now relatively high level pf skills and abilities are required for the successful operation of the purchasing process in any restaurant because of the factor of competition among the restaurants. Gadde and Hakansson (1993) found that purchasing is seen as one of the key strategic functions to be performed effectively by the management of an organization in order to get competitive advantage among several