Question

Mr. Rakesh Mishra is working as a Purchase Manager in ‘Euro Spinner Limited’. He is to
purchase raw materials and then supply to Production Department. The required material
is available in the market @ Rs. 850 per quintal, but he purchased the raw material from his
relative’s shop @ Rs. 900 per quintal. Which management is violated here by Mr. Rakesh
Mishra?

Answer 1

Explanation:

The recent collapse of some banks and financial institutions and the merger of others in ghana is proof that the financial system which consists of institutional units and markets that interact, typically in a complex manner, for the purpose of mobilizing funds for investment and providing facilities.

Answer 2

Purchase management  is violated by Mr. Rakesh  Mishra

Explanation:

• Mr. Rakesh Mishra should have purchased raw materials @ Rs850 per quintal  which is economical in the market but he violated by purchasing the raw material @ Rs.900 per quintal from his relative's shop.
• Purchase and Production management is violated and he has not purchased at economical price.
• Purchase department play a very important role in an organisation because purchasing management controls on all aspects of purchases.
• Purchase management function is to purchase materials and supplies at most economical prices and also maintain good relationship with suppliers.

To know more:

Which management is violated here by Mr. Rakesh  Mishra?

https://brainly.in/question/18350029