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Define Commercialization

question 49

Essay

Define commercialization.Explain the two important issues on which the company must decide during this stage.


Definitions:

Request for Proposal

A document issued by a company inviting suppliers or vendors to submit a proposal on a specific product or service requirement, detailing specifications and evaluation criteria.

Unambiguous Description

A clear and precise explanation or detail that leaves no room for confusion or misinterpretation.

Supply Process

The sequence of activities involved in ensuring that materials and services are available for an organization's operational needs, from sourcing to delivery.

Accounts Payable

The amount of money owed by a company to its creditors or suppliers for purchases made on credit, typically recorded on the balance sheet under current liabilities.

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