1. Explain backward and forward vertical integrations.

2. Describe centralized and decentralized purchasing and their advantages.

3. Explain these terms: (a) supply management, (b) materials management, (c) procurement, (d) purchasing, (e) sourcing, (f) acquisition, (g) sole sourcing and (h) single sourcing. If you are not an ISM member, you will need to register and create an account before you can access the glossary page.

Answer rating: 100% (QA)

Backward integration involves buying part of the supply chain that occurs prior to the companys manufacturing process while forward integration involves buying part of the process that occurs after th... View the full answer