Discussion: Business and Marketing conventional purchasing cycle

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The purchasing department is a vital component of the entire purchasing cycle. Identify the steps in the conventional purchasing cycle and describe the differences between buying and purchasing. Provide examples from the text and/or your professional experiences. Give at least one specific example where companies have implemented technologies to streamline the purchasing process. There are three general types of supplier evaluation described in the text in Chapter 8. Choose one method and describe the details of the method. Use examples from the text and/or your professional experience on advantages and disadvantages of the system. References Benton, W.C. Jr. (2010), Purchasing and supply chain management (2nd edition), New York, NY: McGraw-Hill Irwin.