The Role of Sourcing Planning and Analysis Is

question 23

Multiple Choice

The role of sourcing planning and analysis is

• A)to analyze spending across various suppliers and component categories to identify opportunities for decreasing the total cost.
• B)to analyze spending across various suppliers and component categories to identify opportunities for increasing the total cost.
• C)to enable orders to be placed and delivered on schedule at the lowest possible overall cost.
• D)to enable orders to be placed and delivered on schedule regardless of cost.

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Definitions:

Labor Market

A space, physical or virtual, where workers and employers interact, often resulting in employment and the determination of wages.

Pay Increases

An upward adjustment in an employee's salary or wages, often given based on performance, promotion, or to keep pace with inflation.

Davis-Bacon Act

A federal law in the United States that mandates the payment of local prevailing wages for laborers and mechanics on public works projects.

Walsh-Healy Public Contracts Act

A United States federal law that requires minimum wage, maximum hours, and safety and health standards for contractors and subcontractors performing on certain public contracts.