The purchasing of goods and services from suppliers is called

Question

Quizplus · Accepted Answer

The term procurement refers to the process of purchasing goods and services from suppliers. Sourcing and outsourcing are related concepts, but they typically refer to specific aspects of the procurement process. Sourcing refers to identifying potential suppliers and evaluating their capabilities, while outsourcing refers to the decision to use external suppliers instead of performing the work in-house. Therefore, the best choice is C.

The Purchasing of Goods and Services from Suppliers Is Called