Examlex
Discuss the art of management and how it is supported by the science of management.
Procurement
Procurement is the process of finding, agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process.
Sourcing
The process of identifying, evaluating, and securing suppliers or sources for goods and services that a company needs to operate.
Supplier Selection Criteria
The set of standards or benchmarks used to evaluate and choose suppliers based on factors like quality, reliability, cost, and service.
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