_____ is the end-to-end process of managing a supplier through the entire sourcing life cycle, which includes first identifying the abilities of a particular company with regard to performing a service for the internal customer, completing a sourcing event, negotiating a contract, executing an order, and determining payment.
A)P2P
B)CRM
C)Outsourcing
D)Competitive bidding
E)SRM

Question

Quizplus · Accepted Answer

The end-to-end process of managing a supplier through the entire sourcing life cycle, including identifying abilities, completing a sourcing event, negotiating a contract, executing an order, and determining payment, is known as supplier relationship management (SRM). P2P (Procure-to-pay) is the process of purchasing and paying for goods and services, CRM (Customer Relationship Management) is the process of managing interactions with customers, outsourcing is the practice of contracting out certain business functions, and competitive bidding is a procurement method where potential suppliers bid against each other for a contract. None of these options accurately describes the end-to-end process of managing a supplier.

_____ Is the End-To-End Process of Managing a Supplier Through