Скачать или смотреть Centralized Purchasing and Its Advantages | Class 12 | Accounts | NEB Exam Preparation Nepal

Welcome to Everest Online Academy! In this video, we explore the concept of "Centralized Purchasing" , an essential topic in the Class 12 Accounts syllabus under the chapter Business Organization and Management . Understanding what centralized purchasing is, how it works, and its advantages is crucial for scoring well in your exams. Whether you're struggling with theoretical concepts or need help writing answers effectively, this video will guide you step-by-step with clear explanations, practical examples, and tips from past NEB papers .

✅ What You’ll Learn in This Video:

Introduction to Centralized Purchasing :
What is Centralized Purchasing?
Definition: A system where all purchasing activities are controlled and managed by a single central department or authority within an organization.
Purpose: To streamline procurement processes, reduce costs, and ensure uniformity in purchasing decisions.
Importance of Centralized Purchasing:
Helps in cost control and efficiency.
Frequently tested in NEB exams under the Accounts section.
Key Concepts :
How Centralized Purchasing Works :
All purchase orders are processed through a central purchasing department.
Suppliers are selected centrally, ensuring better negotiation power and quality control.
Inventory management is coordinated to avoid overstocking or shortages.
Advantages of Centralized Purchasing :
Cost Savings : Bulk purchasing reduces per-unit costs due to economies of scale.
Better Supplier Relationships : Centralized systems allow for stronger negotiations and long-term contracts with suppliers.
Standardization : Ensures uniform quality and specifications across all departments.
Efficient Inventory Management : Reduces duplication of efforts and prevents stockouts or overstocking.
Improved Control : Central oversight ensures compliance with organizational policies and budgets.
Reduced Administrative Costs : Streamlines the purchasing process, saving time and resources.
Disadvantages of Centralized Purchasing (Optional) :
Delay in decision-making due to centralized authority.
Lack of flexibility for individual departments to meet specific needs.
Solved Examples :
Example Problem 1 (Theoretical Question) :
Define Centralized Purchasing and explain its advantages.
Solution:
Step 1: Define Centralized Purchasing:
Centralized Purchasing is a system where all purchasing activities are managed by a single central department or authority.
Step 2: List advantages:
Cost savings through bulk purchasing.
Better supplier relationships and negotiation power.
Standardization of quality and specifications.
Efficient inventory management.
Improved control over procurement processes.
Example Problem 2 (Theoretical Question) :
Write any three advantages of Centralized Purchasing.
Solution:
Step 1: Highlight advantages:
Cost savings through economies of scale.
Standardization of quality and specifications.
Improved control over procurement processes.
Old NEB Questions Solved :
Example Problem 1 (NEB Past Question) :
What is Centralized Purchasing? Mention its importance.
Solution:
Step 1: Define Centralized Purchasing:
Centralized Purchasing is a system where all purchasing activities are managed by a single central department or authority.
Step 2: Mention importance:
Helps in cost control and savings.
Ensures standardization of quality and specifications.
Improves control over procurement processes.
Example Problem 2 (NEB Past Question) :
Explain any four advantages of Centralized Purchasing.
Solution:
Step 1: Highlight advantages:
Cost savings through bulk purchasing.
Better supplier relationships and negotiation power.
Standardization of quality and specifications.
Efficient inventory management.
Step-by-Step Solutions to Exam Questions :
Writing descriptive answers on Centralized Purchasing and its advantages.
Application of concepts in real exam scenarios.
Common Mistakes to Avoid While Answering Questions on Centralized Purchasing
Tips to Score Full Marks in Accounts Questions
Practice Exercises for Better Understanding

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