In the business buying process, what is the term for a procedure for evaluating suppliers and products that incorporates weighted averages across desired characteristics?
A) request for proposal
B) multiattribute model
C) sequential revision process
D) supplier evaluation system

Question

Quizplus · Accepted Answer

The term for a procedure for evaluating suppliers and products that incorporates weighted averages across desired characteristics is multiattribute model. This model involves assessing and assigning weights to various attributes or characteristics relevant to the product or supplier, and then evaluating each potential supplier according to these attributes using a scoring system. This allows for a more comprehensive and objective evaluation of suppliers and products, helping to ensure that the organization chooses the best option based on their specific needs and priorities. Options A, C, and D do not specifically refer to this type of evaluation process.

In the Business Buying Process, What Is the Term for a Procedure