Question

When a furniture manufacturer buys the lumber and other raw materials, machines and equipment, manufacturing supplies, and office supplies needed to build its furniture pieces, this is called

Answer 1

Answer:

Procurement

Explanation:

The process of "procurement" refers to purchasing the goods and services that will be used in the company's business. This gives the company the ability to choose where and from whom they will buy their supplies. This allows "fairness" and promotes competition.

The act of buying lumber and raw materials by the furniture manufacturer, including its machines, equipment, manufacturing supplies and office supplies belong to the process of procurement. Companies set their own procurement policies in order to ensure that it aligns with the interest of the public.

So, this explains the answer.