ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Ordering the correct items or quantities can lead to serious procurement problems with your suppliers.
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true
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false
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Procurement is often mistaken for purchasing, and the two terms are often used interchangeably. But those two functions are actually quite distinct-in their intent, the tasks they cover, the people involved, and, most notably, what they accomplish.
Detailed explanation-2: -Inaccurate Needs Analysis. The procurement process begins with a needs analysis. Inadequate Vendor Management & Sourcing. No Supply Chain Risk Management. Underdeveloped Contract Management Processes. Lack of Automation. Poor Procurement Planning. 17-Jun-2022
There is 1 question to complete.