_____ Is the Process of Identifying How Many and Which

question 18

Multiple Choice

_____ is the process of identifying how many and which suppliers a buyer will maintain.

• A)Supply base optimization
• B)Supply base rationalization
• C)Six Sigma
• D)Zero defects
• E)Strategic sourcing

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Definitions:

Equilibrium Price

The price at which the quantity of a product demanded by consumers equals the quantity supplied by producers.

Diagram

A simplified drawing showing the appearance, structure, or workings of something.

Market Supply Curve

A graphical representation showing the total quantity of a good that sellers are willing and able to sell at various prices.

Output

The total quantity of goods and services produced by an economy, company, or process over a specific period.