Examlex
Which of the following statements is not correct?
Intermediary
A third-party agent or entity that acts as a mediator or facilitator between two parties in a transaction, often involved in the distribution chain.
Supply Chain Surplus
The difference between the value a product provides to the customer and the cost of the supply chain in fulfilling that demand.
Supplier Selection
The process of assessing and choosing the most suitable suppliers based on criteria like cost, quality, service, and reliability.
Procurement
The process of obtaining goods and services, including the negotiation of terms, selection of suppliers, and the formal agreement of contracts.
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