Sole Sourcing Is the Awarding of a Contract for an Item

question 21

True/False

Sole sourcing is the awarding of a contract for an item or service to only one supplier.

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Definitions:

Explicit

refers to something stated clearly and in detail, leaving no room for confusion or doubt.

Knowledge Management

The method of producing, distributing, utilizing, and controlling the information and knowledge within an organization.

Systematically Capitalizing

The process of consistently taking advantage of opportunities or strengths in a structured and strategic manner.

Know-how

Practical knowledge, expertise, or skill in how to do something efficiently and effectively, often gained through experience.