Companies Now Use Strategies That Are Lean, Flexible, or Adaptive;

question 9

True/False

Companies now use strategies that are lean, flexible, or adaptive; they wait for customers to push products to the market .

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Definitions:

Commodity Procurement

The process of sourcing and acquiring raw materials or basic goods that are essential for the production of other goods or services.

Managing Suppliers

The process of working effectively with third-party organizations that provide goods and services, to ensure they meet the project's quality, timeline, and budget requirements.

Performance Specifications

Descriptions of the operational requirements and the standards to which a product, service, or project must adhere.

Administrative Function

The tasks related to managing an organization's internal operations, such as record keeping, payroll, and compliance.