What Is the Term for the Process of Choosing Among

question 23

Multiple Choice

What is the term for the process of choosing among different sets of activities caused by competing strategies?

• A)activity elimination
• B)activity reduction
• C)activity costing
• D)activity selection

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Definitions:

Intermediary

A third-party agent or entity that acts as a mediator or facilitator between two parties in a transaction, often involved in the distribution chain.

Supply Chain Surplus

The difference between the value a product provides to the customer and the cost of the supply chain in fulfilling that demand.

Supplier Selection

The process of assessing and choosing the most suitable suppliers based on criteria like cost, quality, service, and reliability.

Procurement

The process of obtaining goods and services, including the negotiation of terms, selection of suppliers, and the formal agreement of contracts.