A Bidder's List Refers to

question 207

Multiple Choice

A bidder's list refers to

• A)a list of firms believed to be qualified to purchase a given item.
• B)a list of firms believed to be qualified to supply a given item.
• C)those firms that have expressed interest in supplying a specific item but have not yet been approved.
• D)a list of firms that have not yet expressed an interest in supplying a specific item to the firm.
• E)a list of approved suppliers that have not yet been entered into the firm's purchasing databank.

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Definitions:

Purchasing Approach

The methodology or strategy that an organization or individual uses to acquire goods or services.

Manufacturing Approach

A method focusing on the efficient production of goods, optimizing operations, and minimizing waste to enhance profitability and competitiveness.

Productivity

The measure of efficiency in which goods and services are produced, often evaluated by the output per unit of input.

Process Re-engineering

Process re-engineering involves analyzing and redesigning workflow and processes within and between organizations to optimize performance and reduce costs.