Use of Technologies Such as Just-In-Time Inventory Systems and Computer-Aided

question 45

True/False

Use of technologies such as just-in-time inventory systems and computer-aided design has reduced pressures for firms to establish long-term relationships with their suppliers.

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Definitions:

Power of Attorney

A formal document that gives one person (the agent) the power to represent another (the principal) in matters of law or finance.

Seal

A device or substance used to close or secure an object or document, often signifying authenticity, confidentiality, or approval.

Subsequent Agreement

An agreement made after a written agreement that alters or cancels the written agreement.

Verbal Agreement

An oral contract that is formed through spoken communication rather than in writing, though its legal enforceability varies by jurisdiction.