The Process of Sourcing Goods and Materials,negotiating with Suppliers,paying for Goods,and

question 49

Multiple Choice

The process of sourcing goods and materials,negotiating with suppliers,paying for goods,and making delivery arrangements is called:

• A)e-procurement.
• B)SCM.
• C)procurement.
• D)sourcing.
• E)production.

---

Definitions:

Perfectly Inelastic Supply

A market condition where the quantity supplied remains constant regardless of changes in price.

Bargaining Power

The relative capacity of parties in a negotiation to exert influence over each other, affecting the terms of the agreement.

Union Workers

Employees who are members of a labor union, which negotiates collective bargaining agreements on their behalf.

Perfectly Inelastic Supply

A market condition where the quantity supplied does not change regardless of price fluctuations.