Theories

The main area of theory relating to purchasing is stock control. There are a variety of different stock control systems that firms can choose and they have to select the most appropriate for their situation. They also need to be sure not to hold too much stock, and to purchase their stock at the best possible rates. All these are very important.

Use the links below to find out more detail about each of these bits of theory:

T 1. Stock control systems

T 2. Purchasing

T 3. Costs of holding stocks