The several processes associated with the acquiring of goods from external vendors are collectively referred to as the ________ process.
A) make-to-stock
B) make-to-order
C) order-to-cash
D) plan-to-produce
E) procure-to-pay

Question

Quizplus · Accepted Answer

The term "procure-to-pay" refers to the process of purchasing goods from external vendors, which includes tasks such as selecting vendors, negotiating contracts, placing orders, receiving goods, and making payments. Therefore, option E is the best choice. The other options (A, B, C, and D) are associated with different processes, such as production planning and order fulfillment.

The Several Processes Associated with the Acquiring of Goods from External