BSBPUR301: Purchase goods and services Assessment Answers TAFE

Course: TAFE

Assessment Type: Practical

In order to ensure that all purchases of goods and services are appropriate, there is a Purchasing Assessment process that is followed. This assessment ensures that the right supplier is selected, the right product or service is procured, and that the best value for money is achieved. The Purchasing Assessment will be conducted for each purchase, and will include an evaluation of the following:

• Needs analysis
• Market research
• Vendor selection
• Contract negotiation
• Risk management

An assessment like a final exam, group, or individual can be useful for understanding new strategies. Whether you are in the classroom and working with us at Australia Assignment Help – we will help improve how well-organized law operates now into its future!

Get Solved Assessment Answers of (BSBPUR301) Purchase goods and services Module

In this section, we are describing some activities. These are:

Assessment Activity 1: Understand purchasing and own requirements

When it comes to making a purchase, understanding your own requirements is essential. That might seem like an obvious statement, but it’s something that many people don’t take the time to consider. By thinking about what you need and want in a product, you can streamline the process of finding the right one for you. In addition, knowing your purchasing criteria will help when comparison shopping or negotiating with a salesperson.

1. Read, understand and clarify the organization’s purchasing strategies as required

This depends on the kind of company you have. If it is a logistics company then they would need different assets or services that a retail chain does. For example, for a logistics company to manage their trade show booth they would not just buy one stand but many stands to have space for all their staff and materials. A retail chain, on the other hand, might only purchase two tables to place at its event booth. Here is the first source of confusion. The first company might purchase its stands from one supplier, but the retail chain may buy its tables from another supplier. This is because these two companies are looking for different things in their purchases. When understanding your own requirements it’s best to focus on what you need and what you want.

The second thing that will vary is the timeline that you have. A logistics company might be looking for something to use at an upcoming trade show, but a retail chain might just need some tables right now. Look at the purchasing criteria below for each industry type and see what your organization needs or wants for their purchases. You don’t need to worry about all of them, but the ones that are most important to you should be considered carefully.

1. Industry Type
2. Importance of Criteria
3. Logistics Company

• Need for delivery on time
• Need for flexible purchase options
• Need for various product/service types and brands

4. Retail Chain

• Need for competitive prices
• Need for immediate delivery
• Need for variety of product/service types and brands

2. Determine your own role and limits of authority in consultation with relevant personnel

This will depend on the position you have in the company and the department you work in. If you are a buyer for a retail chain, for example, you would be responsible for purchasing all of the furniture for the stores. However, if you are a buyer for a logistics company, you might only be responsible for purchasing stands to use at trade shows. You would not be responsible for purchasing furniture.

There are also limits to your authority. As a buyer, you might not have the authority to negotiate prices with suppliers. You would need to discuss this with your supervisor. Or, as a buyer for a retail chain, you might not have the authority to purchase furniture from overseas suppliers. You would need to discuss these purchases with your supervisor or the company’s logistics department.

Assessment Activity 2: Make purchases

Once you have determined your requirements, it’s time to start making purchases. This can be a daunting task, but by following some simple steps, you can make the process easier.

The first thing you need to do is develop a purchase plan. This plan will outline what you are buying when you are buying it, and how you are buying it. The purchase plan should also outline who is responsible for what tasks and how you will communicate the progress of each task.

Once your purchase plan is developed, post it on your wall or board. This will help you stay organized and ensure that everyone knows who is doing what.

Next, identify all suppliers for the products or services that you need. You can do this by searching online, contacting industry associations, or asking other businesses in your area. Once you have identified potential suppliers, research them to see which one is the best fit for your company.

The next step is to contact the suppliers and negotiate prices. This can be a difficult task, but you can improve your chances of success by using the tips outlined below.

First, negotiate with suppliers that are closer to you because they tend to be more flexible on prices. If there is not a closer supplier who can provide what you need, however, do not avoid negotiating with your preferred supplier simply because they are far away.

The second thing you need to do is be prepared. Have a list of the products or services that you need, as well as the quantities. This will help you get the best possible price from the supplier.

The third thing you can do to improve your chances of success is requested a discount for purchasing in bulk. Many suppliers are happy to offer discounts to businesses that purchase large quantities of goods or services.

The final step is to request samples before making your purchases. Make sure that you know exactly what you are buying and how you will be using it before investing in a large amount of stock. Samples can take up valuable storage space, so limit your requests to two or three unless there is a compelling reason to purchase more.

1. Receive purchase specifications from the relevant personnel and clarify as required

Purchase specifications are the descriptions of the products that people would like to purchase in order to perform their necessary jobs or duties. Providing this information is important in order for companies to be able to effectively determine the availability, price, and shipping options for what they need. A company’s skills can also be described when they detail their needs so that businesses that do not provide services in the desired fields will refrain from contacting them.

This type of discussion can allow employees at different branches of a company an opportunity to trade off requests with one another so as not to have a surplus or a shortage. Without knowing any details about a specific company’s needs it is difficult, if not impossible, for anyone outside of said company to know how best they can be supplied with the products or services they need.

2. Select purchasing methods most appropriate to particular purchases within limits of own role

Purchasing methods can be sorted and studied by the company and the general public to find the most effective way for a company to make purchases. Purchasing methods range from simple purchases like buying items through online retailers such as Amazon to more difficult purchasing options such as auctioning off equipment that will be used for a project. These different forms of purchasing methods can be combined to find a solution that works best for a person or company. Purchasing methods are also limited based on the position, role, and authority of a person within an organization.

3. Obtain approvals for purchases as required

Purchases within a company are not always immediately recognized as being needed. This is especially true for larger or more expensive purchases that need to be approved by upper management before they can go through with the transaction. Asking for approvals is important because it prevents unnecessary spending and ensures that any given purchase carries out its desired purpose within the company’s sphere of influence.

Properly obtaining approvals for purchase is important not only because of the guidelines set in place by management but also because it allows for transparency within the company and shows that those who are authorizing the purchase understand what is being bought and why it is necessary. This type of communication can help to prevent any issues or problems that might come up from a poorly executed purchase.

4. Obtain quotations from suppliers as required

In order to get the best price for a product, it is important to request quotes from different suppliers. This will allow a company to compare prices and find the best deal possible. Comparing prices is not always easy, as it can be difficult to find suppliers that carry the same items.

It is important to keep in mind that not every supplier will provide the same level of service or have products that are comparable to one another. Suppliers may also change their prices over time, so it is important to keep an eye on different companies and their services in order to determine which ones might be able to offer the best deal for a given product.

5. Select suppliers, place orders, and make purchases

A person who works at a company that requires a great deal of equipment may be assigned the task of purchasing the necessary items. This is going to require them to learn how to place orders and purchase items through a supplier while fully understanding their role within the business. By trying different forms of purchases, an employee can determine which method will work best for the company at large, as well as for their specific area of expertise.

When placing an order with a supplier it is important that the order contains all relevant information such as what is being ordered and how many units are needed. If relevant, also include any applicable details about the ordering department, order date, item numbers from previous orders, etc.

Assessment Activity 3: Receive purchases

Receiving purchases is an important part of the purchasing process. It is the final step in making sure that a product has been bought and delivered to the correct location.

Receiving products can be difficult, as it can be hard to determine whether or not a product has been delivered properly. This is especially true if there are multiple locations and a person needs to oversee the receiving of every product.

Receiving products and checking them for accuracy is important, as it can help to prevent any issues that might arise from having an incomplete or improperly delivered order. It is best to check each product thoroughly against its purchase requirements before allowing it into the company’s inventory.

1. Receive goods or make arrangements to receive services

Once a purchase has been authorized, the next step is to make sure that the goods or services are received. This can be done in a variety of ways, depending on the company’s needs and preferences.

Some companies might prefer to have someone physically receive the product at the delivery location. Others might choose to have someone check the product’s condition before allowing it into the inventory. This can be done by having someone visually inspect an item or confirm that it is in working order before placing it into storage.

Receiving items on behalf of a business is important, as it ensures that only products that have gone through the proper channels are used by the company. It also helps to prevent any issues with non-functional items by catching them before they enter the inventory and cause problems.

2. Advise relevant personnel of receipt of purchase

Once a purchase has been authorized and the product has been received, it is important to let the relevant personnel know. This can include individuals in accounting, sales, or other areas of the company that might be affected by the purchase.

This step is important in order to keep track of all expenses and make sure that everyone involved knows about the purchase. It can also be helpful in the event that an order needs to be returned or replaced, as it can help to have all of the relevant documentation included when dealing with other parts of the company.

3. Ensure goods received are checked for compliance with specifications

Once a product has been received, it is important to check it for compliance with the company’s specifications. This means checking to make sure that the product is the correct size, color, and style. It can also include confirming that the product works properly and meets all of the required standards.

This step is important in order to avoid any problems that might occur from having products that do not meet the company’s expectations. It can also help to speed up the process of getting a product ready for sale, as it can avoid any delays that might occur if the product needs to be sent back for replacements or repairs.

4. Take action to resolve non-compliance with specifications

If the product does not meet specifications, it might need to be sent back or replaced. This step can vary depending on the nature of the problem with the product.

This step is important in order to ensure that every product has gone through the proper quality control before being used by a company. If companies do not pay attention to receiving products, it can lead to a number of issues down the road. By taking the time to properly inspect each product, it can help to avoid these potential problems.

Receiving products and checking them for accuracy is important, as it can help to prevent any issues that might arise from having an incomplete or improperly delivered order. It is best to check each product thoroughly against its purchase requirements before allowing it into the company’s inventory.

5. Facilitate registration of new assets

Once a product has been received and checked for accuracy, it might need to be added to the company’s assets. This step is important as it allows companies to keep track of all their products and ensure that they do not go missing or get misplaced.

This step can be performed by an accountant at most companies, as it requires someone with an understanding of the company’s finances and asset management. By registering each new product as it comes in, it can help to ensure that everyone is aware of what is being purchased and where it is stored.

Receiving products can be a daunting task, but it is important in order to keep track of all the company’s assets. By following these simple steps, companies can ensure that each product is checked for accuracy and compliance before entering the inventory. It is also important to make sure that everyone who needs to know about the purchase is notified, as this can help to avoid any problems down the road. Finally, registering new assets can help to keep track of everything that comes into and goes out of the inventory at a company. Once this process is complete, companies can feel confident in knowing that their assets are safe and secure.

6. File and store purchase records

Once a purchase has been made, it is important to file and store the relevant records. This can include the purchase order, the invoice, and any other documentation that is related to the purchase.

This step is important in order to have a record of all expenses associated with the purchase. It can also help in the event that there are any problems with the purchase.

By properly filing and storing records, companies can quickly access all relevant information about each purchase. When problems do occur, having accurate documentation can help to facilitate a quick solution. It is also important to keep these records in order, as it can make things easier when trying to locate information for tax purposes or other record requirements.

Filing and storing purchase records is a key part of running a successful business. By taking the time to do this correctly, companies can save themselves a lot of hassle down the road. By following these simple steps, businesses can ensure that they are getting the most out of their purchases.

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