The Use of Supplier Management Systems to Discover Current Suppliers

question 74

True/False

The use of supplier management systems to discover current suppliers with whom partnership may be possible occurs in the commitment stage of the relationship development process.

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Definitions:

Purchase Requisition

A form used within a business by the requesting department asking the purchasing department of the business to buy specific goods.

Cash Payment

Cash Payment involves the transfer of cash from one party to another as a form of settlement of a transaction or an obligation.

Voucher

A document that acts as evidence of a financial transaction, authorizing payment or receipt of money.

Accounts Payable

Financial obligations or debts owed by a business to its suppliers or creditors for goods and services received.