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Match the following terms to the correct definition. 1 The process by which firms identify, evaluate, and contract with suppliers. 2 A simple but effective
Match the following terms to the correct definition. 1 The process by which firms identify, evaluate, and contract with suppliers. 2 A simple but effective decision-making method or tool that allows users to assign numeric values and weights to decision criteria. The output of this method is a weighted score for each decision option. 3 Purchasing where there is a high degree of partnering between the buying and selling organizations and business may be awarded on more than merely price. 4 The amount required to obtain one or more units of an item. 5 Purchasing where price and availability are the primary considerations; where there is virtually no partnering between the buying and selling organizations. 1. Supplier Selection 2. Transactional Buying 3. Acquisition Cost 4. Factor-Rating Method 5. Relational Buying
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