Strategic Sourcing Involves an Increased Focus on Identifying and Using

question 74

True/False

Strategic sourcing involves an increased focus on identifying and using data internally and across the supply chain so that a company can consolidate its purchasing power for enhanced value.

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Definitions:

Efficiency

The optimal use of resources to achieve the desired output with minimum waste or expense.

Community

A group of people living in the same place or having a particular characteristic in common.

Back-To-School Shopping

The period in which students and their parents purchase school supplies and apparel before the new school year begins.

Spending

The action of using money to purchase goods or services.