Vendor Analysis Is a Formal, Systematic Evaluation of Current and Potential

question 162

True/False

Vendor analysis is a formal, systematic evaluation of current and potential vendors that focuses on a variety of dimensions including price, product quality, delivery service, product availability, and overall company reliability.

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Definitions:

Ratification

The act of approving or sanctioning an agreement or treaty that makes it officially valid.

Unauthorized Act

An action taken by an individual or entity without permission or authority, potentially leading to legal consequences or invalidation of the act.

Principal

In finance, this term refers to the original sum of money borrowed in a loan, or the amount of the investment itself, excluding any interest or profit.

Agent

A person or entity authorized to act on behalf of another person or entity in contractual or legal matters.