ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It fulfills the direct procurement requirements through the sourcing, issuance, and confirmation of purchase orders
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Strategic sourcing process
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Receipt confirmation process
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Purchase Order processing
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None of the Above (NOTA)
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Explanation:
Detailed explanation-1: -Procurement and sourcing covers all the steps from identifying a need for product and services through procuring the product, receipt, invoicing, and processing of payment with vendors. Procurement processes can be configured toward specific business needs by defining purchasing policies and workflows.
Detailed explanation-2: -Financial Data. Financial data is one of the most important sources of data in procurement. This data can be used to understand spending patterns and trends, which can then be used to improve the procurement process. Additionally, financial data can be used to identify areas where cost savings can be made.
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