The Term Lean-Procurement Relates to Automatic Transaction, Sourcing, Bidding and Auctions

question 35

True/False

The term lean-procurement relates to automatic transaction, sourcing, bidding and auctions using Web-based applications, and the use of software that removes human interaction and integrates with the financial reporting of the firm.

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Definitions:

Life Change Units

A measure used to assess the stress level of different types of life changes, where each event is assigned a score to indicate the level of stress it might cause.

Social Readjustment Rating Scale

A scale measuring the stress level of individuals through the tally of significant life changes they have experienced.

Major Life Event

A significant occurrence or change in an individual's life, such as marriage, the birth of a child, or a career change, that can have a substantial psychological impact.

Social Readjustment Rating Scale

A psychological tool that measures the stress level of individuals by assigning numerical values to life events, used to predict the likelihood of illness.