A Major Cost in the Purchasing Function Is the Number

question 76

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.This 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:

Relativity

A theory in physics, formulated by Albert Einstein, that describes the interrelation of space, time, and gravitation, indicating how they are perceived differently depending on the observer's motion.

Physics

The natural science that studies matter, its motion and behavior through space and time, and the related entities of energy and force.

Predicate

The component of a sentence or proposition that asserts something about the subject, often involving a verb.

Proposition

A statement or assertion that expresses a judgment or opinion; in logic, a declarative sentence that is either true or false.