In Most Cases, the Best Place to Apply Electronic Procurement

question 46

Multiple Choice

In most cases, the best place to apply electronic procurement is in circumstances where ___________________ and ___________________, especially when developing new products or technologies.

• A) there is a casual relationship / a significant number of vendors are available
• B) a very close business relationship must be established / ongoing cooperation is needed with suppliers
• C) a close business relationship exists / a limited number of suppliers exists
• D) a close business relationship exists / ongoing cooperation is needed
• E) there is a casual relationship / cooperation is needed among suppliers

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Definitions:

Forecasting

The process of making predictions about future events or trends based on historical data or analysis.

Seasonal

Relating to or occurring at a specific season of the year, often causing fluctuations or patterns in data or activity.

Time Series

A sequence of data points collected or recorded at successive points in time, typically at equally spaced intervals.

Three-period Moving Average

A calculation to analyze data points by creating a series of averages of three subsets of the full data set.