When Selection Criteria Are Used in the Vendor Selection Decision

question 97

True/False

When selection criteria are used in the vendor selection decision, the most common criteria includes quality delivery, performance history, warranties, facilities and capacity, geographic location, and technical capability.

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Definitions:

Legally Defensible

A situation, action, or decision that can be upheld in court or is justifiable by law, often important in business practices and procedures to mitigate legal risks.

Job Analysis

A systematic process of gathering, documenting, and analyzing information about the responsibilities, duties, skills, outcomes, and work environment of a specific job.

People-centered

An approach or mindset that prioritizes the welfare, development, and engagement of people within an organization or community over other considerations.

Human Capital

The knowledge, skills, and abilities possessed by an individual or population, viewed in terms of their value or cost to an organization or country.