Which of the Following Is an Advantage of Using Single

question 8

Multiple Choice

Which of the following is an advantage of using single sourcing?

• A) Suppliers are more likely to remain cost-competitive.
• B) Buyers are less reliant on one firm to deliver the needed goods without interruption.
• C) The buyer and seller agree to be each other's customers.
• D) Consistency of quality of materials input into the product process is more assured.
• E) Buyers have other suppliers to fall back on if one supplier fails.

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Definitions:

Knowledgeable

Describing someone who possesses a thorough or deep understanding of a particular subject or subjects.

Human Resource Planning

The process of forecasting an organization's future demands for and supply of the right type of people in the right number.

Small Firms

Companies or businesses with a limited number of employees and a smaller footprint in their respective markets, often characterized by more flexible operations and less formal structures compared to larger corporations.

Informal Forecasting Techniques

These are non-structured, qualitative methods of predicting future events or outcomes based on intuition, experience, or informal analysis.