bulk-purchasing

Vocabulary Word

Definition

'Bulk-purchasing' is when you buy a large quantity of one item at one time. It's like buying in wholesale, often done to save money in the long run.

Examples in Different Contexts

In retail management, 'bulk purchasing' refers to buying products in large quantities to get a lower price per unit. A store manager might say, 'Bulk purchasing allows us to offer competitive prices to our customers by reducing our cost per item.'

Practice Scenarios

Operations

Scenario:

We run out of essential items more frequently than we should. We need to improve our inventory management.

Response:

That's a good point. We should look into bulk-purchasing for our fast-moving goods to ensure we maintain appropriate stock levels.

Business

Scenario:

Our company spends a lot on office supplies each month. There has to be a more cost-effective way to do this.

Response:

Let's consider doing bulk-purchasing for office supplies. We can make substantial savings with volume discounts.