In the _____ marketplace model, EC technology is used to streamline the purchasing process in order to reduce the cost of items purchased, the administrative cost of procurement, and the purchasing cycle time.
A) buy-side
B) sell-side
C) auctions
D) group purchasing
E) electronic exchange

Question

Quizplus · Accepted Answer

The buy-side marketplace model involves using EC technology to simplify the procurement process and reduce costs. This model is used by organizations to purchase goods and services from suppliers. The aim is to streamline the purchasing process in order to lower the cost of items purchased, and also to reduce the administrative cost and cycle time involved in procurement. Therefore, option A is the correct answer.

In the _____ Marketplace Model, EC Technology Is Used to Streamline