The Strategy of Purchasing Suppliers in Order to Have a Reliable

question 5

Multiple Choice

The strategy of purchasing suppliers in order to have a reliable supply chain is known as:

• A) in-house production.
• B) outsourcing.
• C) benchmarking.
• D) vertical integration.
• E) product lifecycle management.

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Definitions:

Profit Sharing

A company policy of sharing a portion of its profits with its employees, typically in the form of bonuses or contributions to retirement accounts.

Track Results

Involves monitoring, recording, and analyzing outcomes or performance over a period to measure progress towards goals.

Extrinsic Rewards

Benefits or compensations given by an external party, such as money or awards, that motivate individuals to perform certain tasks.

Intrinsic Ones

Internal factors or motivations that drive behavior or action, such as personal satisfaction or pleasure.