Which of the Following Is True About Business-To-Business E-Procurement

question 93

Multiple Choice

Which of the following is true about business-to-business e-procurement?

• A) E-procurement increases transaction costs for suppliers.
• B) Because of an overwhelming demand, e-procurements usually have a huge time gap between order and response.
• C) Many buyers now use the power of the Internet to pit suppliers against one another and search out better deals, products, and turnaround times on a purchase-by-purchase basis.
• D) E-procurement doesn't enhance customer-supplier relationships.
• E) Due to extensive paperwork, the relatively important strategic issues, such as finding better supply sources and working with suppliers to reduce costs and develop new products, are sidelined.

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Definitions:

Agent

Someone authorized to act on behalf of another person or entity, often in business transactions or legal matters, with certain duties and powers.

Ratification

Ratification is the act of officially approving an agreement or contract, making it valid, or the process of confirming and accepting unauthorized actions by an agent on behalf of a principal.

Express Authority

The power given explicitly to an agent or representative by a principal, through verbal instructions or written documentation.

Implied Authority

Indicates the power or permission granted through actions or circumstances, not explicitly outlined in a contract or verbal agreement.