Performance on a Contract May Result in a Supplier's Name

question 8

Multiple Choice

performance on a contract may result in a supplier's name being dropped from the buying organization's

• A) industry directory.
• B) make-buy list.
• C) vendor-rating sheet.
• D) suppliers sheet.
• E) bidder's list.

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Definitions:

Controlling Inventory Levels

A strategy used in operations management that aims at maintaining optimal levels of inventory to meet demand while minimizing carrying costs and stockouts.

Variable Costing

An accounting method that only allocates variable costs to inventory, treating fixed costs as period expenses.

Contribution Margin

The amount by which the selling price of an item exceeds its variable costs, contributing towards covering fixed costs and generating profit.

Sales Personnel

Individuals in an organization responsible for selling products or services to customers, often including roles such as sales representatives, sales managers, and sales directors.