TOPICEfficient purchasing is vital for enhancing profitability and securing an organization's long$-$term success. To optimize procurement, the organization conducts internet auction eventsto obtain specialized components, contributing to a streamlined and cost$-$effective supplychain. Suppliers are evaluated based on various key criteria to ensure the bestpartnerships. Choose any company in the clothing manufacturing industry in South Africaa n d a n s w e r a l l t h e $3$questions:$$ Read the scenario;$$ Answer the three questions$\mathrm{.}60$Question$1$Critically explain the different ways in which efficient purchasing can contribute greatly to theoverall profitability and prosperity of your company. Provide own examples to justify youranswer.$$ Explain the different ways in which efficient purchasing can contribute greatly tot h e o v e r a l l p r o f i t a b i l i t y a n d p r o s p e r i t y o f a c o m p a n y $.(10$marks$)$ Make reference to your company $/$use relevant examples$-(10$marks$)[20]$