Today, When a Buyer Can't Specify All of the Details

question 125

Multiple Choice

Today, when a buyer can't specify all of the details of what it will need in the future, the relationship with a supplier is most likely to involve:

• A) an auction.
• B) a procurement hub.
• C) negotiated contracts.
• D) competitive bids.
• E) All of these are likely to be involved.

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Definitions:

React

pertains to an individual's immediate response or reaction to a stimulus or situation, often without extensive analysis.

Implications

The possible outcomes or effects that may result from a particular action, decision, or circumstance, often considered in planning or analysis.

Transactional Leaders

Leaders who focus on the role of supervision, organization, and group performance, often emphasizing the exchange between leader and followers.

Institutionalization

The process by which practices and activities become established norms or standards within an organization or society.