The World Economy Has Changed Profoundly as Evident by the Fact

question 75

True/False

The world economy has changed profoundly as evident by the fact that the global competitors have steadily displaced or absorbed local competitors.

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Definitions:

Factor Weighting Technique

A method used in decision-making that assigns different weights to various factors or criteria according to their importance or relevance.

Supplier Selection

The process of evaluating and choosing suppliers based on criteria such as price, quality, reliability, and service to ensure the best value for the purchasing organization.

Supplier Criteria

Supplier criteria are the set standards or requirements that a company uses to evaluate and select suppliers, including quality, reliability, cost, and delivery performance.

Composite Score

An aggregate score that combines several individual metrics or scores into a single overall measurement, often used in assessments or evaluations.