Which activity is part of the execution phase in the purchasing process?

The execution phase in the purchasing process primarily involves the activities that take place after a purchasing decision has been finalized, focusing on the implementation of the purchase. In this context, the activity "Goods receipt" is a key aspect because it pertains to the actual physical receipt of goods from a supplier after an order has been placed. This step is critical for confirming that the goods ordered are delivered in accordance with the purchase order, ensuring their quality and quantity meet the specified requirements.

Receiving goods not only plays a role in verifying that what was ordered matches what has been delivered but also initiates subsequent processes in accounts payable, such as matching invoices against receipts, which is essential for accurate financial record keeping and effective cash management.

In contrast, the other activities listed (defining supplier relationships, negotiating contracts, and developing sourcing strategies) are typically part of the planning and strategy phases, where relationships and agreements are established prior to the actual purchase execution. These activities are essential, but they do not occur during the execution phase itself.