After Conducting a Vendor Analysis on Potential Suppliers, Purchasing Managers

question 58

Multiple Choice

After conducting a vendor analysis on potential suppliers, purchasing managers are likely to choose the vendor that:

• A) enables the firm to operate more efficiently with the least risk.
• B) offers the lowest priced goods and services.
• C) offers the widest assortment of business products.
• D) received the best rating from gatekeepers.
• E) was the friendliest.

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Definitions:

GDP

Short for Gross Domestic Product, it's the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

MV

An abbreviation that can stand for "Market Value," representing the current price at which an asset or service can be bought or sold.

Percentage

A portion or part of a whole, expressed as a fraction of 100.

Constants

Fixed values in an equation or model that do not change, unlike variables which can fluctuate.