What is a buyer?

Question

What is a buyer?

Accepted Answer

A buyer is a person or entity who purchases goods or services in exchange for money or other forms of payment.

Buyers can be individuals or organizations.
They play a crucial role in the supply chain by selecting and procuring products or services.
Buyers negotiate prices, terms, and conditions with sellers.
They may conduct market research to identify potential suppliers and evaluate their offerings.
Buyers may also be responsible for managing supplier relationships and ensuring timely delivery of goods or services.
Examples of buyers include retail consumers, procurement professionals in companies, and government agencies.
Buyers may specialize in specific industries or product categories.

Accepted Answer

A buyer is an individual contributor who purchase material or product from vendors at reasonable prices.

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