_____ is a process associated with defining the contract, defining roles and responsibilities of both parties, and advising when to modify and ensure appropriate escalation.
A)Spend analysis
B)Contract management
C)Cost management
D)Supplier selection
E)Category management

Question

Quizplus · Accepted Answer

Contract management is the process associated with defining the contract, defining roles and responsibilities of both parties, and advising when to modify and ensure appropriate escalation. Spend analysis is the process of collecting, cleansing, classifying, and analyzing expenditure data to identify opportunities to reduce procurement costs. Cost management is the process of planning and controlling the budget. Supplier selection is the process of selecting the best supplier based on criteria such as cost, quality, and delivery. Category management is the process of managing a group of related goods or services as a strategic business unit.

_____ Is a Process Associated with Defining the Contract, Defining