Strategic Sourcing Is the Development and Management of Supplier Relationships

question 8

True/False

Strategic sourcing is the development and management of supplier relationships to acquire goods and services in a way that aids in achieving the immediate needs of the business.

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Definitions:

Additive Strategy

An approach in problem-solving where multiple solutions are added together to form the final answer or solve a complex issue.

Framing

The way information is presented to the audience, which can influence decision-making and perceptions by highlighting certain aspects while downplaying others.

Gut Feelings

Intuitive judgments and responses that one cannot articulately rationalize, often based on experience.

Intuition

The capacity to grasp concepts intuitively, without relying on deliberate thought.