A company has reached the end of a contractual agreement with a vendor and wants to open it up for bid again before signing a new contract. This type of purchase situation is a:
A)straight rebuy.
B)modified rebuy.
C)new task purchase.
D)joint demand purchase.

Question

Quizplus · Accepted Answer

This situation is a modified rebuy because the company has previous experience with the vendor but is still considering other options before making a new purchase decision. A straight rebuy would involve simply renewing the contract with the same vendor without any further evaluation, while a new task purchase would involve purchasing a new product or service that the company has never dealt with before. Joint demand purchase refers to a situation where two products or services are purchased together, which does not apply in this case.

A Company Has Reached the End of a Contractual Agreement