Effective Procurement And Profit Maximization In A Manufacturing Organization

CHAPTER ONE 1.1     INTRODUCTION           Effective procurement is one of the key functions of any manufacturing organization; profit is the excess of return over expenditure in any transaction or service of transaction especially the excess of selling price of goods over their cost or the net income for a given period of time. The word profit to the aforementioned fact, is the ratio of profit for a given year to the amount of invested or to the value of sales.           In distance profit to some business experts is the compensation accruing to entrepreneurs for the assumption of risk in bu…