An approach that requires purchasing to view the entire world as a potential source for parts, components, services, and finished goods is called:

Question

Quizplus · Accepted Answer

The approach that requires purchasing to view the entire world as a potential source for parts, components, services, and finished goods is called global sourcing. This involves identifying and evaluating suppliers from different countries and making decisions based on factors such as cost, quality, lead time, and logistics. It is a strategic approach that allows companies to tap into the advantages of globalization and leverage the strengths of different regions and markets.

An Approach That Requires Purchasing to View the Entire World