Figure 6-4 -Figure 6-4 Above Shows the Three Buy Classes Encountered by Encountered

question 178

Multiple Choice

Figure 6-4
-Figure 6-4 above shows the three buy classes encountered by organizational buyers. Column C is referred to as a

• A) modified rebuy.
• B) straight rebuy.
• C) new buy.
• D) standard reorder.
• E) altered buy.

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Definitions:

Mission-Critical Products

Items or services that are essential for the successful operation of a business or organization.

Viability of Suppliers

An assessment of a supplier's ability to meet contractual obligations, maintain consistent product or service quality, and sustain operations over time.

Replenishment Lead Time

The time span from when an order is placed until it is received and ready for use or sale, including order preparation, processing, and shipping.

Safety Inventory

Inventory kept as a precaution against supply and demand fluctuations, aiming to prevent stockouts and maintain service levels.