Buying Task

A Buying Task is a commercial acquisition task that obtains ownership rights through monetary payment.

• AKA: Purchasing Task, Procurement Task, Acquisition Task.
• Context:
  • It can acquire Product Ownership through purchase transactions.
  • It can evaluate Supplier Options through vendor assessments.
  • It can negotiate Purchase Prices through buying negotiations.
  • It can establish Purchase Agreements through buying contracts.
  • It can manage Payment Processes through financial transactions.
  • ...
  • It can often involve Market Research through price comparisons.
  • It can often require Budget Approvals through purchasing authorizations.
  • It can often utilize Procurement Systems through buying automations.
  • It can often include Quality Verifications through purchase inspections.
  • ...
  • It can range from being a Simple Buying Task to being a Complex Buying Task, depending on its buying complexity level.
  • It can range from being a Personal Buying Task to being an Organizational Buying Task, depending on its buying entity type.
  • It can range from being a Routine Buying Task to being a Strategic Buying Task, depending on its buying importance level.
  • It can range from being a Spot Buying Task to being a Contract Buying Task, depending on its buying duration type.
  • ...
  • It can be performed by Buyers through purchasing skills.
  • It can be supported by E-Procurement Platforms through digital buying tools.
  • It can be measured by Purchasing Performance Metrics through cost saving measures.
  • It can be governed by Procurement Policys through buying regulations.
  • ...
• Example(s):
  • Consumer Buying Tasks, such as:
    • Retail Buying Task for consumer product acquisition.
    • Online Shopping Task for e-commerce purchase.
    • Grocery Buying Task for food product acquisition.
  • Business Buying Tasks, such as:
    • Raw Material Buying Task for manufacturing input acquisition.
    • Equipment Buying Task for capital asset acquisition.
    • Service Buying Task for professional service procurement.
  • Specialized Buying Tasks, such as:
    • Real Estate Buying Task for property acquisition.
    • Commodity Buying Task for commodity market purchase.
    • Government Procurement Task for public sector acquisition.
  • Strategic Buying Tasks, such as:
    • Bulk Buying Task for volume discount acquisition.
    • Just-In-Time Buying Task for inventory optimization purchase.
    • Sustainable Buying Task for ethical procurement practice.
  • ...
• Counter-Example(s):
  • Selling Task, which transfers ownership rights rather than acquires them.
  • Bartering Task, which exchanges goods directly rather than uses monetary payment.
  • Renting Task, which obtains usage rights rather than ownership rights.
  • Receiving Gift Task, which acquires ownership without payment obligation.
  • Borrowing Task, which obtains temporary possession rather than permanent ownership.
• See: Commerce, Market (Economics), Auctioning Task, Selling Task, Procurement Process, Supply Chain Management, Vendor Management, Purchase Order, Buyer Behavior.

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References

2017

• (Wikipedia, 2017) ⇒ https://en.wikipedia.org/wiki/Trade Retrieved:2017-1-30.
  • Trade, or commerce, involves the transfer of goods and/or services from one person or entity to another, often in exchange for money. A network that allows trade is called a market.

    The original form of trade, barter, saw the direct exchange of goods and services for other goods and services. Barter is trading things without the use of money. Later one side of the barter started to involve precious metals, which gained symbolic as well as practical importance. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade.

    Trade exists due to the specialization and division of labor, in which most people concentrate on a small aspect of production, but use that output in trades for other products and needs. Trade exists between regions because different regions may have a comparative advantage (perceived or real) in the production of some trade-able commodity—including production of natural resources scarce or limited elsewhere, or because different regions' size may encourage mass production. As such, trade at market prices between locations can benefit both locations.

     Retail trade consists of the sale of goods or merchandise from a very fixed location, such as a department store, boutique or kiosk, online or by mail, in small or individual lots for direct consumption or use by the purchaser. Wholesale trade is defined as the sale of goods that are sold as merchandise to retailers, and/or industrial, commercial, institutional, or other professional business users, or to other wholesalers and related subordinated services.

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