Electronic procurement exchanges
A) can facilitate efforts to obtain equity investments.
B) can permit bid/quote systems for buyers and suppliers.
C) protect companies from potential loss of proprietary data.
D) prevent exposure to exchange rate fluctuations.

Question

Quizplus · Accepted Answer

Electronic exchanges can permit buyers and suppliers to interact through a standard bid/quote system in which buyers can post their purchasing needs online for all prospective suppliers to view and the suppliers can then submit private quotes to the buyer. The buyer can then select among the submitted quotations on the basis of price, delivery times, or other factors. Industry-sponsored exchanges can also facilitate obtaining letters of credit, contracting for logistics and distribution, and monitoring daily prices and order flows, among other services.

Electronic Procurement Exchanges