1A3

Question 1

Bill of Exchange

Answer 1

A document drawn by the seller on the buyer, instructing the buyer to pay the amount of the purchase under specified circumstances.

Question 2

Buyer

Answer 2

A job title in many supply management organizations. Used to describe individuals engaged in procurement activities, regardless of their rank in the organization.

Question 3

Centralized

Answer 3

An organizational structure in which decision-making authority for specific activities rests with a particular group or location.

Question 4

Distribution