Steps involved in one Complete purchasing cycle are:- 1. Recognition of Need, Receipt and Analysis of Purchase Requisition. 2. Selection of Possible Potential Sources of Supply. 3. Making Request for Quotation. 4. Receipt and Analysis of Quotations. 5. Selection of Right Source of Supply. 6. Issuing the Purchase Order. 7. Follow-Up and Expediting the Order and Others. Step # 1. [...]
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