The process of sourcing goods and materials, negotiating with suppliers, paying for goods, and making delivery arrangements is called:

Question

Quizplus · Accepted Answer

The process described encompasses the various steps involved in procurement, which refers to the overall process of acquiring goods, services, or materials from external suppliers or vendors. SCM (supply chain management) typically refers to the broader process of overseeing and coordinating activities related to production, inventory management, and logistics, while sourcing and EDI (electronic data interchange) are more specific aspects of procurement. Social media is not directly related to the procurement process.

The Process of Sourcing Goods and Materials, Negotiating with Suppliers