XX A..A. E E 1 Normal 1 No Spac... Heading 1 Heading 2 Title sc Replace Select Editing Font Paragraph (e) a+b+c mg Styles 18. It is not one of the factors contributing to the development of the contemporary supply management philosophy (a) Recognition that concern with strategic supply rather than price is important (b) Global competition demands rapid product innovation (c) The Rapid developments in information technology which facilitated the evolution (d) The realization that supplier support can increase efficiency and emphasis on supplier relations (e) The nature of the products which can be sold to the consumers on a reasonable price 19 Standardisation will bear the following results (a) Technological innovations and developments in the quality field (b) Global changes in customer requirements regarding quality (c) Elimination of mistakes when orders are placed (d) Improved competitive position of the firm (e) c+d 20. Steps of the purchasing system are (a) Analysing the invoice (b) Selection of suppliers (c) Bidding and negotiation (d) Specification (e) All of the above