Examlex
How does the average amount of water that returns to the oceans by precipitation compare to the water that leaves by evaporation?
Supplier Selection
The process of assessing and choosing the most suitable suppliers based on criteria like cost, quality, service, and reliability.
Procurement
The process of obtaining goods and services, including the negotiation of terms, selection of suppliers, and the formal agreement of contracts.
Direct Materials
Raw materials that are directly incorporated into and can be directly traced back to a finished product in the manufacturing process.
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
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