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:

Manufactured Goods

Products that have been processed or transformed from raw materials into finished items through the use of machinery or human effort.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by high unemployment, deflation, and a significant fall in economic output.

Worst Recession

Refers to the most severe period of economic decline in activity across an economy, lasting more than a few months.

World's Leading Industrial Power

A country that dominates global manufacturing output, characterized by its advanced technological capability and extensive industrial infrastructure.