There Are Four Steps in the Managing Sourcing and Procurement

question 32

Multiple Choice

There are four steps in the Managing Sourcing and Procurement Processes. Which of the following is not one of them?

• A) Determine the type of purchase
• B) Determine the necessary levels of investment
• C) Evaluate the effectiveness of the strategic sourcing process
• D) Examine off shore and e-procurement suppliers

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Definitions:

Profit

The income earned when the total revenue from business activities is higher than the combined expenses, costs, and taxes necessary for those activities.

Proportions

The relationship between parts and a whole in terms of size, quantity, or degree.

Factor 2

A component or element that contributes to a particular result or situation.

Profit

The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.