Henry Ford

question 14

Multiple Choice

Henry Ford

• A) invented the automobile.
• B) invented the gas engine.
• C) invented air brakes.
• D) invented the assembly line.
• E) invented the conveyor belt.

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Definitions:

Safety Inventory

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

Single Sourcing

The procurement practice of acquiring goods or services from one selected supplier.

Buyer-Specific Investment

Investments made by a company tailored to the needs or specifications of a single buyer, often to strengthen the business relationship or secure long-term contracts.

Procurement Goal

Objectives set by an organization’s procurement department focusing on acquiring goods and services to meet its needs in terms of quality, quantity, timing, and cost.