The process by which companies acquire raw materials,components,products,services,and other resources from suppliers to execute their operations is
A)procurement.
B)sourcing.
C)supplier scoring and assessment.
D)supplier selection.

Question

Quizplus · Accepted Answer

Procurement involves the entire process of acquiring goods and services, including sourcing, selecting suppliers, supplier scoring and assessment, and negotiating contracts. Therefore, A is the best choice as it encompasses all the other options.

The Process by Which Companies Acquire Raw Materials,components,products,services,and Other Resources