All of the Following Are Advantages of a Categorical Supplier

question 33

Multiple Choice

All of the following are advantages of a categorical supplier evaluation system except _____.

• A)easy to implement
• B)requires minimal data
• C)different personnel can contribute
• D)low-cost system
• E)greatest potential for long-range improvement

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Definitions:

Input

The resources such as labor, materials, and capital used in the production process to produce output.

Profit

The financial surplus remaining after all expenses have been deducted from total revenue, indicative of the financial success of a business operation.

Commodity

An essential commodity employed in business activities that is substitutable with other commodities of the identical category.

Maximise

The process of increasing a particular variable or outcome to its highest possible value under given constraints.