Purchases of goods and services based on long-term contracts is referred to as ________.
A)direct materials
B)consolidation
C)spot buying
D)strategic sourcing

Question

Quizplus · Accepted Answer

Purchases based on long-term contracts require careful planning and execution, which is typically done through strategic sourcing. Direct materials refer to the raw materials used to create a product, while consolidation refers to the combining of resources or companies. Spot buying refers to purchasing goods or services on an as-needed basis.

Purchases of Goods and Services Based on Long-Term Contracts Is