One Way a Firm Could Reduce the Risk of Problems

question 67

Multiple Choice

One way a firm could reduce the risk of problems with supplier dependability is to

• A)purchase inventory from only U.S.-based suppliers.
• B)use an ERP system for purchases.
• C)require suppliers to be ISO 9000 certified.
• D)automate the purchasing function.

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Definitions:

Candy

A sweet confectionery made from sugar or chocolate, often flavored or filled with fruits, nuts, etc.

Utilities Possibilities Frontier

A curve that represents the maximum utility levels that can be achieved by an economy given efficient allocation of resources.

Utility

In economics, the total satisfaction received from consuming a good or service.

Marginal Utility

The additional satisfaction or utility gained from consuming one more unit of a good or service.