11. A
purchase order is legally binding once issued by the buyer.
12. Procurement
credit cards can be used for small purchases excluding meals, lodging, and
travel expenses.
13. Blank
check purchase orders, Corporate purchasing cards, Petty cash, and Open-end
purchase orders are all possible alternatives to dealing with small value
purchases such as those for office supplies.
14. If
the break-even point in a typical make-buy scenario is 24,000 units and 8,000
units are required, than the firm should choose to make.
15. If
the break-even point in a typical make-buy scenario is 10,000 units and 15,000
units are required, than the firm should choose to make.
16. The
possibility of events like strikes, assembly line breakdowns, and natural
disasters are all reasons a company should favor using a single supplier.
17. Centralized
purchasing is the practice where individual, local purchasing departments
throughout a single corporation make their own, individual purchasing decisions
to fulfill their individual local needs.
18. Decentralized
purchasing is the practice where individual, local purchasing departments
throughout a single corporation make their own, individual purchasing decisions
to fulfill their individual local needs.
19. NAFTA
and the WTO are trade organizations seeking to reduce tariff and non-tariff
barriers among its member countries.
20. The
WTO is a trade organization seeking to establish trade barriers that will
protect member countries by excluding nations that pose an economic threat.
