Question: Explain what a purchase order is and whether this document is considered a contract or not? What are three (3) objectives of purchasing? Explain each

  1. Explain what a purchase order is and whether this document is considered a contract or not?
  2. What are three (3) objectives of purchasing? Explain each one.
  3. Explain what supplier performance scorecards are, along with the importance of them.
  4. Explain the following purchasing documents: RFQ, RFI and RFP (also indicate what they stand for.
  5. What are two (2) formal approaches to supply base rationalization? List and describe them.

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