On Occasion,firms Assist Suppliers,new or Old,to Improve Their Processing Capabilities,product

question 37

Multiple Choice

On occasion,firms assist suppliers,new or old,to improve their processing capabilities,product or service quality,delivery effectiveness,and cost performance by providing the required technical and financial assistance.This is referred to as:

• A)Supplier development
• B)Outsourcing
• C)Centralized purchasing
• D)Supplier hybridization

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Definitions:

Chain Restaurants

Restaurants that are part of a brand or franchise, featuring standardized menu items and decor, and operated by a single company or franchisees across multiple locations.

Labor Dependent

Industries or activities heavily reliant on human labor as a primary input or resource for production.

Monopolistic Competitor

A firm in a market structure where many companies sell products that are similar but not identical, leading to non-price competition.

Revenue-And-Costs

The financial inflows associated with business operations and the expenditures required to generate revenue.