Ethics Contrast ethical and unethical purchasing activities. Variable price margins Explain the term variable price margins. Bidding Contrast beneficial and detrimental competitive bidding practices. Discount Define the term discount as it applies to the purchasing role. Name the elements of an acceptable cost analysis as it is applied to the purchasing role.
Contracts Discuss the part contracts play in the purchasing role.
Negotiation Give an example where negotiation is a factor in a successful purchasing action. Timing Name the factors which determine timing as applied to a purchasing action. Equipment market Discuss sources of equipment buys. Contrast the new versus used equipment market. Leasing equipment State the factors to be considered when leasing equipment.