Strategic Sourcing as a Process Is Far More Broad and Comprehensive

question 34

Multiple Choice

Strategic sourcing as a process is far more broad and comprehensive than procurement. Overall, the process starts with the formation of a:

• A) steering committee.
• B) list of vendors.
• C) decision as whether to make or buy.
• D) list of criticals.

---

Definitions:

Indemnification

Indemnification is the process by which one party agrees to compensate another for any losses or damages suffered, often as part of a contractual agreement.

Breach of Contract

The failure to perform any term of a contract, written or oral, without a legitimate legal excuse.

Agent's Negligence

A situation where an agent fails to perform duties with the required level of care or competence, resulting in harm or damage.

Tort Remedies

Legal solutions provided to victims of torts, including compensation for losses, injunctions, and restitution aimed at rectifying harm.