When an acceptable purchasing alternative has been identified and it is taken, the process is called:
A) decision maximization
B) satisficing
C) utilization
D) standardization

Question

Quizplus · Accepted Answer

The process of accepting an alternative that meets the minimum requirements or criteria is called satisficing. This approach is commonly used in purchasing decisions when time and resources are limited, and it is not feasible to evaluate every potential alternative thoroughly. Although decision maximization involves a more exhaustive search for the ideal alternative and may result in a better outcome, it is not always practical or necessary. Utilization refers to the actual use or consumption of the purchased items, while standardization involves establishing consistent criteria or specifications for purchasing decisions.

When an Acceptable Purchasing Alternative Has Been Identified and It