Which of the Following Statements Explains 'Purchasing Management

question 21

Multiple Choice

Which of the following statements explains 'purchasing management'? 

• A) All activities necessary to manage supplier relationships in such a way that their activities are aligned with the company's overall business strategies and interests. 
• B) Relates to all activities necessary to manage customer relationships in such a way that their activities are aligned with the company's overall business strategies and interests. 
• C) Relates to all activities necessary to manage staff relationships in such a way that their activities are aligned with the company's overall business strategies and interests. 
• D) Relates to all activities necessary to manage financial relationships in such a way that their activities are aligned with the company's overall business strategies and interests.

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Definitions:

Trichromatic Theory

A theory of color vision that explains how humans perceive color through the response patterns of three types of cones in the retina, sensitive to short, medium, and long wavelengths of light.

Three Types Of Cones

Refer to the photoreceptor cells in the retina of the eye responsible for color vision; they are sensitive to different wavelengths of light (long, medium, and short) corresponding to the colors red, green, and blue.

Perceive Color

The process by which beings with sight interpret the electromagnetic spectrum reflected off objects into the experience of color.

Retinex Theory

A theory explaining how the human eye perceives color, proposing that the brain uses comparative information from different light wavelengths.