________ Refers to Many Different Procurement Methods That Make Use

question 135

Short Answer

________ refers to many different procurement methods that make use of an electronic venue for identifying,evaluating,selecting,negotiating and collaborating with suppliers.

---

Definitions:

Fixed Operating Expenses

Costs that do not fluctuate with the volume of production or sales, such as salaries and rent.

Gross Margin

The difference between revenue and cost of goods sold, indicating the financial health of production processes.

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding costs related to production or sourcing goods.

Variable Cost Per Unit

Variable cost per unit is the cost that varies with the level of output, calculated by dividing the total variable costs by the number of units produced.