AQA GCSE Business 3.3.2 The role of procurement

Students should be able to;
evaluate the use of managing stock using JIT to a given business
recognise that the benefits of reduced costs must be balanced against the cost of more frequent and lost purchasing economies of scale
recognise that the benefits of having spare stock to satisfy demand balanced against the cost of holding buffer stock
to analyse the factors that affect the choice of supplier for a given business
understand what procurement and logistics are and their effect on a business
recognise that the benefits of reduced costs must be balanced against the quality of service
understand what a supply chain is and recognise the benefits of managing an effective supply chain

This complete lesson is written by Sarah Hilton for Revisionstation