E-Procurement

question 54

Multiple Choice

E-procurement:

• A)works best in long-term contract situations but is not suited for auctions.
• B)is purchasing facilitated through the Internet.
• C)has many benefits but requires a lot of paperwork.
• D)is illegal in all states except Nevada and New Jersey.
• E)All of the above are true of e-procurement.

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Definitions:

Historical Experience

Refers to the information and insights gained from past events and situations that influence current decision-making or understanding.

Time-Study Procedure

A method used to determine the time taken for a worker to complete a task, with the goal of increasing efficiency.

Worker's Performance

An evaluation of an employee's work output, efficiency, and effectiveness, often measured against predetermined criteria or standards.

Standard

An established norm or requirement in technical systems, often used to ensure consistency, compatibility, and safety in products and processes.