A Major Cost in the Purchasing Function Is the Number

question 83

Multiple Choice

A major cost in the purchasing function is the number of purchase orders processed.One technique that may reduce purchasing-related expenses is to have suppliers compete with each other to meet demand at the lowest price.The name of this technique is

• A)an EDI auction.
• B)a trading exchange.
• C)a reverse auction.
• D)a supplier consortium.

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Definitions:

Dukes of Burgundy

A title held by members of the nobility in historical regions of France and the Low Countries, playing a significant role in European politics and arts during the Middle Ages and the Renaissance.

Northern European Rulers

Refers to the monarchs and leaders who governed the various kingdoms, principalities, and empires of Northern Europe throughout history.

Illusionism

The art technique of depicting images so realistically that they create the optical illusion of being three-dimensional.

French Manuscript Painting

The art of decorating handwritten books with miniature paintings, particularly flourishing in France during the medieval period.