A Company Most Likely Would Implement a Supplier Certification Program

question 116

Multiple Choice

A company most likely would implement a supplier certification program to:

• A) improve the supplier's procurement process.
• B) abide by ISO standards.
• C) validate the supplier's compliance with requirements.
• D) implement point-of-sale (POS) terminals.

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Definitions:

Benefits

Advantages or positive outcomes derived from a particular action or policy.

Free Good

A good that is available without any cost, typically because it is abundant or not owned by any one entity.

Economizing Behavior

The practice of minimizing costs or expenditures while achieving desired outcomes.

Opportunity Cost

The penalty of overlooking the closest preferable alternative in the course of decision-taking.