It Is Essential That Global Sourcing Decisions Be Closely Linked

question 7

Short Answer

It is essential that global sourcing decisions be closely linked to the organization's ______ and that explicit objectives for suppliers be defined and incorporated in contracts.

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Definitions:

Industry Concentration

A measure of the extent to which a small number of firms dominate the total production, sales, or market share in an industry.

Elastic

A measure in economics indicating how much the demand or supply of a good changes in response to a change in price.

Marginal Revenue

The extra revenue gained by selling an additional unit of a product or service.