The decision-making process generally involves the following steps:
Identification of Needs: Recognizing a requirement for goods or services. Specification: Defining the exact requirements and standards needed. Supplier Search: Looking for potential vendors who can fulfill the needs. Evaluation: Assessing the various suppliers based on factors like price, quality, and reliability. Negotiation: Discussing terms and conditions to secure the best deal. Purchase Decision: Making the final decision and placing the order. Post-Purchase Evaluation: Reviewing the purchase to ensure it meets the required standards.