Purchasing: Tertiary Sector of the Economy Essay Example

is a major purchase I in high volumes Continuity of supply important Buying worldwide Flow Production Major say incorporate strategy Specialization activity wise: expediting, material control, inventory and inventory control

Purchasing activity is specialized: raw material buyer, electrical, mechanical etc. Distributive Goods sold as bought No perceived value added Customer related Buying around 80 % of total expenditure Inventory control important 3. Tertiary Sector The tertiary sector of the economy is the service industry. This sector provides services to the general population and to businesses. Activities associated with this sector include retail and wholesale sales, transportation and distribution, entertainment (movies, television, radio, music, theater, etc. , restaurants, clerical services, media, tourism, insurance, banking, healthcare, and law. In most developed and developing countries, a growing proportion of workers are devoted to the tertiary sector. In the U. S. , more than 80% of the labor force are tertiary workers. People with know how and technique Might have high capital goods expenditure: airline Most physical materials not 4. Public Sector There is huge amount of expenditure and is represented by: Utility industries Government/departments Local government Health Armed forces Not for profit and no sales Income from government taxes