Which one of the following statements best describes purchasing management?
1. A network of organisations that are involved through upstream and downstream relationships, in the different processes and activities that produce value in the form of products and services in the hands of ultimate customer.
2. Is mostly directed by general management and utilises the principles of general management, unlike management that is mostly focused on planning, organising, leading and control.
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3. The operational function in an organisation dealing with the preparation of contracts for third parties (suppliers) to purchase raw materials, packaging and services for the fulfilment of the organisationsĂ˘â‚¬â„˘ objectives.
4. Starts with identifying the key process performance metrics to ascertain how processes are functioning to meet customer requirements.