ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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“Vendors” and “Purchasing” mean the same thing
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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: -Suppliers are often referred to as the first link in a supply chain, existing strictly in a B2B relationship. By contrast, a vendor is a business or person who purchases products from a company, then sells them to someone else.
Detailed explanation-2: -Buyers mainly specialize in the procurement of goods for their companies to sell to consumers, whereas purchasing agents usually find and purchase materials and supplies their companies need in order to produce goods and services.
Detailed explanation-3: -Purchasing is the process a business or organization uses to acquire goods or services to accomplish its goals.
There is 1 question to complete.