Describe the e$-$procurement system and its advantages over the manual system. Are there any disadvantages to the electronic system? Do you think the eprocurement system will ultimately replace the manual system? Why or why not?

How can purchasing help to improve the competitive edge of an organization?

What is the profit$-$leverage effect of purchasing? What is the return$-$on$-$assets effect of purchasing?

Describe the purpose of a material requisition, a purchase order, a request for quotation and a request for proposal. Does the material requisition serve the same purpose as the purchase order?

Should unit price be used as the sole criterion for selecting suppliers? Why?

When should a firm outsource instead of making the items in$-$house?

What factors should be considered while choosing suppliers?

If a firm's total assets is $$2\mathrm{.}5$ million and its return on assets is $12$ percent, what is its net income?

If a firm's cost of goods sold is $$5$ million and its inventory turnover is $10$ times, what is the average inventory?

A small firm has an ending inventory of $$52,000$ as at December $31,2020$ and the following accounting information:

$\backslash$table$[[$Month$,$Ending Inventory,Cost of Goods sold$],[$January$,$$$75,000,$$$225,000$