INTRODUCTION
The art of trading in materials, i.e the process of buying and selling is nearly as old as man himself. Before the advert of money as a medium of exchange, man bartered items surplus of his requirement for things which he needed. From the time man discovered that he could put his talent to produce or manufacture things he began to specialize whatever he vacation, man found it more economical to purchase materials of equality suitable to his needs, at prices which he considered favourable.
1.1 BACKGROUND OF THE STUDY
The purchasing function achieved specialization quite early man’s history. The earliest examples of a purchase order dated back to 2500 B.C. It was accepted of Babylonian origin and was meant for supply of fragment oil to be delivered 70 jars at 19 days interval.
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