Multiple Sourcing Is Defined as Purchasing from Several Vendors

question 224

Multiple Choice

Multiple sourcing is defined as purchasing from several vendors.Which of the following is an advantage of multiple sourcing?

• A)​protects a firm from shortages
• B)​interacting with multiple vendors is more efficient
• C)​enables a firm to use a centralized purchasing strategy
• D)​purchasing agents can save time

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Definitions:

Value Of The Dollar

Refers to the purchasing power of the U.S. dollar, which can be influenced by factors such as inflation rates and foreign exchange rates.

Industry Life Cycle

This concept describes the stages of a business sector's development from its initial entrance (introduction), through growth and maturity, to eventual decline.

Barriers To Entry

Obstacles that make it difficult for new competitors to enter a market, such as high start-up costs or complex regulations.

Industry Life Cycle

The Industry Life Cycle outlines the stages of growth, saturation, and decline that industries experience over time, affecting business strategies and market dynamics.