ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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supplier selection
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purchasing
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benchmarking
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customer intelligence
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Detailed explanation-1: -Supplier selection is the process of choosing which prospective vendor or supplier should an organization get into business with.
Detailed explanation-2: -Simply put, sourcing is the process of selecting suppliers to provide the goods and services you need to run your business. It may sound uncomplicated, but the process can be complex. Supplier Sourcing involves the following: Finding quality sources of goods and services.
Detailed explanation-3: -sourcing: Sourcing, like purchasing, is only part of the overall procurement process. Sourcing is an early stage of the procurement cycle. It encompasses activities such as identifying and assessing potential suppliers of goods or services, negotiating terms and selecting the vendors that best meet the company’s needs.