Answer the following Study Questions APA format from the textbook

Business Feb 17, 2021

Answer the following Study Questions APA format from the textbook.

Chapter 4: Questions 1 and 3

Question 1: Why does the contemporary view of procurement as a strategic activity differ from the more traditional view of purchasing?

Question 3: How does lowest CO differ from lowest purchase price?

Chapter 5: Questions 3 and 6

Question 3: Why would a company's costs of manufacturing and procurement tend to increase as the firm changes from a MTP to a MTO strategy? Why would inventory costs tend to decrease?

Question 6: What are the key elements of design for manufacturing and for logistics?

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