Strategic Sourcing Is the Development and Management of Supplier Relationships

question 8

True/False

Strategic sourcing is the development and management of supplier relationships to acquire goods and services in a way that aids in achieving the immediate needs of the business.

Realize the importance of budgeting methods in planning social media campaigns.

Identify the structure and components of social media marketing plans.

Understand the significance of target audience analysis including their social profiles and behaviors.

Understand different organizational models for managing social media within a company.

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Definitions:

Aging

A method used in accounting to categorize accounts receivables based on the length of time an invoice has been outstanding to manage and track debts.

Uncollectible

Accounts receivable that are deemed to be uncollectable and thus are written off as an expense.

Receivables Accounting

The process of recording and managing the money owed to a business by its customers for goods or services offered.

IFRS

International Financial Reporting Standards, a set of accounting guidelines that govern how financial statements are prepared and presented globally.