The buyer in the industry

Abstract

One of the most important functions performed by every organization—regardless of its line of business, size, nature, geographic location, or time period—is the acquisition of inputs or purchases. A company requires a renewed supply of inputs or energy imports to survive. These inputs come from other organizations—which may be raw materials, machinery, finished products, services, or information—and are transformed or utilized in some way by the organization so that it, in turn, produces products or provides services in a market or community. There is no company that does not need to collect inputs from abroad, and the way in which this activity is conducted will largely determine a company's operating costs.