The Purchasing Approach That Holds the Suppliers Responsible for Maintaining

question 121

Multiple Choice

The purchasing approach that holds the suppliers responsible for maintaining the necessary technology, expertise, and forecasting ability plus cost, quality, and delivery competencies is

• A) few suppliers
• B) many suppliers
• C) Keiretsu
• D) vertical integration
• E) virtual companies

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Definitions:

Task Significance

The degree to which a job has a substantial impact on the lives or work of other people, within or outside the organization.

Independence

The state of having the self-autonomy and freedom to make decisions without undue influence from others.

Discretion

The freedom to decide what should be done in a particular situation.

Adam Smith

An 18th-century Scottish economist known as the father of modern economics, renowned for his theories on free markets and the division of labor.