Which of the Following Must the Purchasing Management Process Strive

question 30

Multiple Choice

Which of the following must the purchasing management process strive for continuously improving? 

• A) The delivery dates of orders. 
• B) The price/value ratio in the relationship with suppliers. 
• C) The number of suppliers. 
• D) Storage facilities.

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Definitions:

Breach of Contract

The violation of a contractual obligation or a failure to perform any promised act or obligation.

Intellectual Property

Legal rights that come from the intellectual activity in the industrial, scientific, literary, and artistic fields.

Patent

A legal right granted to an inventor, giving them exclusive control over the production, use, and sale of their invention for a certain period.

Bilateral Contract

A contractual agreement involving two parties where each party commits to fulfill specific obligations.