In a Reverse Auction a Customer Posts Contracts for Products

question 84

True/False

In a reverse auction a customer posts contracts for products available for bids from potential suppliers on the Internet.

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Definitions:

Rules

Explicit principles or guidelines that govern behavior and the operation of systems within various contexts.

Regulations

Rules and guidelines issued by governmental bodies to control activities within various sectors.

Functional Structures

An organizational design that groups employees based on their roles or functions within the organization, such as marketing, finance, and human resources.

Mechanistic

Describes an organizational structure that is highly centralized and hierarchical, with clear lines of authority and a high degree of formalization in procedures and rules.