Covers major details that pertain to purchasing supplies and services for business operations. Topics include prudent purchasing strategies, inventory management, dealing with supply sources, negotiating prices, making capital equipment purchases, measuring purchasing performance, and much more. This new edition includes pertinent updates on how market developments impact the modern purchasing function. Titles in Barron's Business Library series are currently being revised and updated, and re-set in an attractive new paperback format. They are written especially for men and women starting a company or managing a small-to-medium-size business. Emphasis is on practical problem solving, and examples cited in these books are based on realistic business situations.