Entrepreneurship and Small Business Management

Section 1: Purchase Planning and Management

Section 15.1 Summary
Managing the purchasing and inventory process effectively should be a high priority for entrepreneurs and can mean the difference between success and failure. Planning business purchases requires that you answer critical questions about inventory needs before committing financial resources. You want to get the right quality and quantity of inventory at the right time from the right vendor at the right price. Purchasing management also includes verifying and recording the inventory when it arrives, as well as marking the merchandise or materials.

Section 15.1 Reading Organizer
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