The Centralization of the Procurement Function Within an Internal Division

question 116

Multiple Choice

The centralization of the procurement function within an internal division or as a service of an external supplier is known as:

• A)supply chain inversion.
• B)inventory perpetuation.
• C)systems integration.
• D)merchandising.

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Definitions:

Good Faith

Good Faith involves engaging in actions or negotiations with honesty, integrity, and sincerity without any intention to deceive or defraud.

Increasing Resources

The act of adding more resources such as time, money, or manpower to a project or work environment to enhance productivity or efficiency.

Precise Rules

Clearly defined and strict guidelines or regulations that must be followed to ensure a certain outcome or maintain order.

ADR

Alternative Dispute Resolution, a range of processes and techniques to resolve disputes outside the judiciary process, including mediation and arbitration.