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question 83

Multiple Choice

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Definitions:

Preferred Suppliers

Vendors or service providers selected by a company as preferred sources due to their reliability, quality, or cost advantages.

Strategic Alliances

Partnerships between two or more companies to pursue mutual goals while remaining independent organizations.

Informal Arrangements

Unofficial agreements or practices that are not formally documented, often relying on personal relationships or understandings.

Enterprise Resource Planning Systems Software

Integrated software applications that manage a company's processes in various departments such as finance, human resources, and logistics, facilitating information flow within an organization.