When a firm cannot conduct an entire marketing research project in house, it must select an external supplier for one or more phases of the project
One of the things that the firm does not need to consider or do when selecting an external research supplier is ________.
A) compile a list of prospective suppliers
B) realize that the cheapest bid is not always the best bid
C) develop criteria for selecting an outside supplier
D) All of the above must be considered or done.
D
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What are some of the risks of placing the decision of what, when and where to buy solely at the discretion of the purchasing agent?
Two organizations who join forces to achieve advantages neither can perform as well alone would be called
a. union partners. b. strategic allies. c. distributors. d. special interests. e. regulatory institutions.
Lark enters into a contract to mine limestone in Milena's quarry, sell it, and share the profits on its sale with Milena. If the duties under this contract are discharged like those under most contracts, the duties will be
A. repudiated. B. breached. C. performed. D. rescinded.
Consider the following situation: The marketing manager of Gramblin, Inc. accepted a rush order for a nonstock item from a valued customer. The manager filed the necessary paperwork with the production department, and a production manager did the same with purchasing for needed raw materials. Unfortunately, a purchasing clerk temporarily lost the paperwork; by the time it was found, it was too late to order from Gramblin's regular supplier. A new supplier was located that quoted a very attractive price.The materials soon arrived and were found to be of poor quality, thus giving rise to a favorable materials price variance, an unfavorable materials quantity variance, and an unfavorable labor efficiency variance. These latter two variances, based on normal practice, appeared on the
production manager's performance report for the period just ended.Required: A. Given that the company uses a responsibility accounting system, should the production manager be penalized for poor performance? Briefly discuss, keeping in mind that a production manager is generally in a very good position to control material usage and labor efficiency.B. Should anything be done to correct the situation? If "yes," briefly explain. What will be an ideal response?