Ecommerce Chapters 10 & 12

The last step in the procurement process is: A) sending a remittance payment. B) sending the invoice. C) shipping the goods. D) delivering the goods.

A) sending a remittance payment.

Automated order entry systems: A) show goods from a single seller. B) increased the costs of inventory replenishment. C) are typically owned by the purchasing firm. D) no longer play an important role in B2B commerce.

A) show goods from a single seller.

NeweggBusiness is an example of a(n) ________. A) e-distributor B) exchange C) private industrial network D) e-procurement Net marketplace

A) e-distributor

B2B e-commerce websites: A) are a predecessor of industry consortia. B) tend to serve horizontal markets. C) are buyer-side solutions. D) are considered a type of EDI system.

B) tend to serve horizontal markets.

47) In 2016, e-book sales are expected to constitute about ________% of all consumer book sales. A) 15 B) 25 C) 35 D) 45

B) 25

8) All of the following are examples of technology convergence except: A) the iPad. B) Amazon Books Publishing. C) Apple TV. D) smartphones.

B) Amazon Books Publishing.

Which of the following statements about B2B marketing is not true? A) Mobile B2B marketing consumes only 5% of B2B marketing budgets. B) B2B marketing accounts for over 25% of the total amount spent on digital marketing and advertising. C) Content marketing is one of the primary and most effective marketing tools in B2B marketing. D) The disparity between the amount spent on B2B marketing compared to B2C e-commerce reflects the different nature of much of B2B e-commerce when compared to B2C e-commerce.

B) B2B marketing accounts for over 25% of the total amount spent on digital marketing and advertising.

43) Which of the following statements about the online newspaper audience is not true? A) The online newspaper is one of the most successful of all online media in terms of audience size. B) Most newspaper readers read the news using a combination of the Web, print and mobile. C) Over 65% of Internet users read newspaper content online. D) Online newspapers reach over 75% of individuals in households earning more than $100,000 a year.

B) Most newspaper readers read the news using a combination of the Web, print and mobile.

56) Which of the following most accurately describes the resolution of the dispute between Hachette, Simon & Schuster, and Amazon? A) The dispute remains unresolved. B) Publishers can set the prices of their books, but Amazon can offer incentives to publishers to reduce prices on selected books and publishers may pay Amazon to list their books. C) Amazon can determine the prices of books sold on its platform at its sole discretion. D) Amazon must not sell the books for any lower than the price they are offered by Apple.

B) Publishers can set the prices of their books, but Amazon can offer incentives to publishers to reduce prices on selected books and publishers may pay Amazon to list their books.

57) Which of the following is a news aggregator app that organizes stories in a magazine format, with content drawn from traditional media and social sites, and then reassembled in an easy-to-navigate, personalized format for a mobile touchscreen environment? A) Reddit B) Huffington Post C) Flipboard D) Buzzfeed

C) Flipboard

50) In 2014, Amazon engaged in a trade dispute with ________ over the pricing of e-books. A) Barnes & Noble B) Penguin Random House C) Hachette D) Harper Collins

C) Hachette

Supply chain ________ refers to differentiating a firm's products or prices based on superior supply chain management. A) management B) simplification C) competition D) collaboration

C) competition

Which of the following primarily deals with direct goods? A) e-distributors and independent exchanges B) exchanges and e-procurement Net marketplaces C) exchanges and industry consortia D) e-procurement Net marketplaces and industry consortia

C) exchanges and industry consortia

Cisco estimates that by 2016, mobile traffic will represent ________% of all business Internet traffic. A) less than 5 B) around 10 C) around 15 D) over 25

D) over 25

71) Which of the following statements about the television industry is not true? A) Netflix is the leading distributor of streaming TV. B) The current transition to Internet and especially mobile delivery of television is leading to a decline in traditional television viewing. C) Americans spend more time watching television on a computer or mobile device than they do on a traditional television set. D) Over-the-top entertainment services are a threat to cable television distributors.

B) The current transition to Internet and especially mobile delivery of television is leading to a decline in traditional television viewing.

80) Hollywood's practice of staggering the distribution of movies in different channels, such as box office and DVDs, is referred to as: A) price discrimination. B) content convergence. C) the release window. D) digital rights management.

C) the release window.

Office supplies are an example of: A) direct goods. B) indirect goods. C) MRO goods. D) distributed goods.

B) indirect goods.

Which of the following is not a characteristic of the use of social networks in B2B e-commerce? A) It is typically unstructured. B) It helps develop a more personal relationship between participants in the supply chain. C) It enables participants to make decisions based on current conditions. D) They are always private.

D) They are always private.

Which of the following statements about EDI systems is true? A) They typically serve vertical markets. B) They are seller-side solutions. C) They evolved from private trading exchanges. D) They still play an important role in B2C commerce.

A) They typically serve vertical markets.

All of the following are potential benefits of B2B e-commerce except: A) increased production flexibility. B) increased product cycle time. C) increased opportunities to collaborate with suppliers and distributors. D) increased visibility and real-time information sharing among all participants in the supply chain network.

B) increased product cycle time.

TheSeam is an example of an ________. A) exchange B) industry consortium C) e-procurement Net marketplace D) e-distributor

B) industry consortium

All of the following are forms of collaboration among businesses except: A) RFQs. B) CPFR. C) demand chain visibility. D) marketing coordination and product design.

A) RFQs.

32) Which of the following newspaper audience platforms has the highest percentage of readers? A) print/mobile B) Web only C) Web/mobile D) print

D) print

What is the first step in the procurement process? A) negotiate price B) qualify the seller and its products C) issue a purchase order D) search for suppliers

D) search for suppliers

79) The leading merchants of digital games are Apple's App Store and: A) Xbox. B) Twitch.tv. C) Amazon Digital. D) the Google Play store.

D) the Google Play store.

magazine aggregator

a website or app that provides subscriptions and sales of many digital magazines

content convergence

convergence in the design, production, and distribution of content

enterprise systems

corporate-wide systems that relate to all aspects of production, including finance, HR & procurement

technology convergence

development of hybrid devices that can combine the functionality of two or more existing media platforms into a single device

____ is a market that serves many different industries?

horizontal market

value chain management (vcm) services

include automation of a firm's entire procurement process on the buyer side and automation of the selling business processes on the seller side

social TV

involves consumers sharing comments via social networks while viewing television

paywall

paid subscription service

hub-and-spoke system

suppliers connected to a central hub of buyers via private dedicated networks

Multi-tier supply chain

the chain of primary, secondary, and tertiary suppliers

Supply Chain Visibility

the extent to which purchasing firms can monitor second-and third-tier suppliers' activities

agency model

the retailer is an agent and prices are set by the manufacturer

2) Cord cutters and cord shavers are shrinking the number of pay TV households yearly by approximately: A) 1%. B) 5%. C) 10%. D) 15%.

A) 1%.

58) What percentage of people read newspapers only on a mobile device? A) 5% B) 7% C) 11% D) 14%

A) 5%

12) Internet media revenue is about ________ of total entertainment and media revenue. A) 9% B) 18% C) 36% D) 40%

A) 9%

45) Together Amazon and Apple account for ________ of the e-book market. A) 50% B) 75% C) 85% D) 90%

C) 85%

6) Which of the following is the fastest growing segment of media revenues? A) magazines B) home video C) Internet media D) radio

C) Internet media

________ are the fastest growing form of B2B e-commerce. A) R-distributors B) Exchanges C) Private industrial networks D) Industry consortiums

C) Private industrial networks

66) Which streaming gaming channel was purchased by Amazon in 2015? A) Dailymotion B) YouTube.com C) Twitch.tv D) Shield.nvidia.com

C) Twitch.tv

68) ________ is the largest online movie download distributor. A) Netflix B) Hulu C) iTunes D) Google Play

C) iTunes

EDI document structures are defined by: A) a single international standards body. B) individual suppliers and buyers. C) industry committees. D) each purchaser.

C) industry committees.

Which of the following is a method of inventory cost management that seeks to eliminate excess inventory? A) lean production B) sustainable production C) just-in-time production D) supply chain simplification

C) just-in-time production

All of the following are potential benefits of B2B e-commerce except: A) lower administrative costs. B) lower search costs. C) lower price transparency. D) lower transaction costs.

C) lower price transparency.

35) Which of the following was the most troubled (e.g., revenues) segment of the publishing industry in 2016? A) books B) magazines C) newspapers D) periodicals

C) newspapers

54) Which of the following native digital news sites is owned by AOL? A) Vox B) Vice C) Reddit D) Huffington Post

D) Huffington Post

industry convergence

merger of media enterprises into synergistic combinations that create and cross-market content on different platforms

whole sale model

prices are determined by the retailer

________ is an example of an e-distributor. A) Amazon Business B) PowerSource Online C) SupplyOn D) Elemica

A) Amazon Business

All of the following are examples of direct goods in the auto industry except: A) sheet steel. B) shatter-resistant glass. C) rubber molding. D) desktop computers.

D) desktop computers.

An ________ serves businesses that primarily buy direct goods on a contract purchasing basis. A) e-distributor B) e-procurement company C) exchange D) industry consortium

D) industry consortium

release window

staging the release of new movies across different distribution channels with different prices

11) ________ accounted for the second largest amount of paid online content revenues in the United States in 2016. A) Online video games B) Internet radio C) Online music D) Online TV and movies

A) Online video games

7) Which of the following streaming TV devices does not involve use of a remote controller? A) Google Chromecast B) Apple TV C) Amazon Fire TV D) Roku

A) Google Chromecast

34) Which of the following happened when newspapers used a print-centric business model? A) Google launched its search engine. B) Apple introduced the iPhone. C) Facebook opened to the public. D) The adoption of smartphones and tablets has grown rapidly

A) Google launched its search engine.

5) Well over ________ of television viewers multitask while watching television. A) 20% B) 40% C) 60% D) 80%

D) 80%

The term BYOD refers to employees: A) working from home. B) being allowed or encouraged to use their own mobile devices and laptops. C) using mobile devices for work. D) bringing work devices to the home.

B) being allowed or encouraged to use their own mobile devices and laptops.

16) Content convergence describes convergence in the design, production, and ________ of content. A) sales B) distribution C) marketing D) consumption

B) distribution

Which of the following primarily deals with indirect goods? A) e-distributors and industry consortia B) e-distributors and e-procurement Net marketplaces C) exchanges and industry consortia D) exchanges and e-procurement Net marketplaces

B) e-distributors and e-procurement Net marketplaces

Which of the following primarily serves horizontal markets? A) e-distributors and exchanges B) e-distributors and e-procurement Net marketplaces C) e-procurement Net marketplaces and industry consortia D) exchanges and industry consortia

B) e-distributors and e-procurement Net marketplaces

An ________ primarily serves businesses that buy indirect goods on a contract purchasing basis. A) e-distributor B) e-procurement Net marketplace C) exchange D) industry consortium

B) e-procurement Net marketplace

Private industrial networks are direct descendants of: A) e-procurement Net marketplaces. B) existing EDI networks. C) independent exchanges. D) industry consortia.

B) existing EDI networks.

42) A metered subscription model is most similar to which of the following revenue models? A) transaction fee B) freemium C) advertising D) affiliate

B) freemium

52) Zinio is an example of which of the following? A) interactive book developer B) magazine aggregator C) e-reader platform D) vanity press

B) magazine aggregator

The liquidity of a market is measured by all of the following except: A) price transparency. B) number of buyers and sellers in market. C) volume of transactions. D) size of transactions.

A) price transparency.

38) Magazine print advertising revenues are expected to ________ through 2020. A) remain relatively flat B) more than double C) grow 20% D) significantly decrease

A) remain relatively flat

3) Which of the following forms of media generate the most revenue? A) television B) Internet C) newspapers D) box office

A) television

A(n) ________ market is one that provides expertise and products for a specific industry, such as automobiles. A) vertical B) horizontal C) indirect D) buyer-biased

A) vertical

Which of the following is an example of an e-procurement Net marketplace? A) TheSeam B) Ariba C) Grainger D) SupplyOn

B) Ariba

________ was/were the first step in the development of B2B e-commerce. A) Electronic Data Interchange (EDI) B) Automated order entry systems C) Computerized inventory databases D) Digital invoices

B) Automated order entry systems

________ is another name for transorganizational business processes. A) Supply chain management B) Collaborative commerce C) B2B e-commerce D) Value chain management

B) Collaborative commerce

72) Which of the following statements about the music industry is not true? A) Music industry revenues have decreased by 50% since 1999. B) Digital revenues accounted for less than half of all U.S. music revenues in 2015. C) In 2015, sales of vinyl records grew by over 30%. D) Streaming music generates about 40% of all digital music sales.

B) Digital revenues accounted for less than half of all U.S. music revenues in 2015.

All of the following are weaknesses of EDI except: A) EDI is not well suited for electronic marketplaces. B) EDI lacks universal standards. C) EDI does not provide a real-time communication environment. D) EDI does not scale easily.

B) EDI lacks universal standards.

Which of the following is not a typical barrier to the implementation of a private industrial network? A) It requires participating firms to share sensitive data. B) It requires the large network owners to give up some of its independence. C) It requires a significant investment of time and money. D) It requires a change of mindset and behavior of employees.

B) It requires the large network owners to give up some of its independence.

33) ________ has the highest share of the e-book market. A) Amazon B) Apple C) Google D) Barnes & Noble

A) Amazon

Which of the following statements about cloud-based B2B systems is not true? A) Much of the expense of the system is shifted from the B2B network provider to the firm. B) B2B network providers charge customers on a demand basis. C) Network effects apply, enabling the spreading of costs. D) Cloud-based B2B data networks can be implemented in short periods of time.

A) Much of the expense of the system is shifted from the B2B network provider to the firm.

69) Which of the following statements about the movie industry is not true? A) Over 300 million Americans were expected to watch movies online in 2015. B) Online movie distribution is not dominated by a single distributor. C) Of the digital formats, the most revenue is generated by subscription streaming. D) DVD sales make up the largest share of movie revenues.

A) Over 300 million Americans were expected to watch movies online in 2015.

74) In 2015, which of the following forms of entertainment produced the least amount of revenue? A) Radio B) Music C) Video games D) Television

A) Radio

________ purchasing involves the purchase of goods based on immediate needs in larger marketplaces that involve many suppliers. A) Spot B) Indirect C) Vertical D) Bulk

A) Spot

________ refers to the links that connect business firms with one another to coordinate production. A) Supply chain B) B2B e-commerce C) Vertical market D) Horizontal market

A) Supply chain

15) ________ convergence describes the development of hybrid devices that can combine the functionality of two or more existing media platforms into a single device. A) Technological B) Content C) Media D) Industry

A) Technological

81) Which of the following statements is not true about OTT? A) To use OTT services, consumers must purchase a bundle of channels. B) OTT entertainment services are a threat to cable television. C) OTT refers to the fact that the entertainment service rides "on top" of other network services such as cable TV and telephone service. D) OTT entertainment services enable binge watching.

A) To use OTT services, consumers must purchase a bundle of channels.

All of the following are current major trends in B2B e-commerce, except: A) a movement toward implementing highly centralized supply chains to reduce risk. B) a growing emphasis on the use of business analytics software (business intelligence) to understand very large data sets. C) a growing emphasis on rapid-response and adaptive supply chains rather than lowest-cost supply chains. D) an increase in regional manufacturing and supply chains to attempt to combat the risks of far-flung global networks.

A) a movement toward implementing highly centralized supply chains to reduce risk.

Electronic Data Interchange (EDI) began as a(n) ________ system. A) document automation B) document exchange C) invoice generation D) MRP

A) document automation

An ________ primarily serves businesses that buy indirect goods on a spot purchasing basis. A) e-distributor B) e-procurement company C) exchange D) industry consortium

A) e-distributor

9) All of the following are aspects of content convergence except: A) language. B) design. C) production. D) distribution.

A) language.

E-distributors: A) make money by charging a mark-up on products they distribute. B) usually operate "private" markets. C) operate in vertical markets. D) focus on selling direct products

A) make money by charging a mark-up on products they distribute.

________ is a method for ensuring that suppliers precisely deliver ordered parts at a specific time and to a particular location. A) Having an adaptive supply chain B) Tight coupling C) Supply-chain management D) Materials requirement planning

B) Tight coupling

All of the following are important trends in B2B e-commerce in 2016-2017, except: A) the growing emphasis on obtaining real-time data. B) growing emphasis on lowest cost supply chains. C) generation and management of huge big data repositories. D) an increase in regional manufacturing and supply chains.

B) growing emphasis on lowest cost supply chains.

78) Which of the following is not a type of digital gamers? A) casual gamers B) local gamers C) social gamers D) console gamers

B) local gamers

10) Which of the following occurs first in the process of content convergence related to books? A) media integration B) media migration C) media transformation D) media maturity

B) media migration

53) The New York Times introduced which of the following revenue models in 2011? A) paywall B) metered subscription C) advertising D) walled garden

B) metered subscription

75) In 2016, which of the following comprised the largest segment of the online gaming audience? A) social gamers B) mobile gamers C) casual gamers D) console gamers

B) mobile gamers

An example of an indirect good in the fast-food industry is: A) mustard. B) paper napkins. C) beef. D) sugar.

B) paper napkins.

14) DRM refers to a combination of ________ for protecting digital content. A) hardware and software methods B) technical and legal means C) user and publisher agreements D) local and remote policies

B) technical and legal means

73) Which of the following is the largest producer of revenues in the entertainment industry? A) radio B) television C) films D) video games

B) television

1) Which of the following is not a current trend in online content? A) Sales of music in digital form produce more revenue than sales of physical units. B) Readership of newspapers in print form continues to exceed online readership. C) E-book sales growth slows. D) Explosive growth of the mobile platform accelerates the transition to digital content.

B) Readership of newspapers in print form continues to exceed online readership.

44) Who was the first major fiction writer to create an e-book-only volume of a new work? A) Hugh Howey B) Stephen King C) Dan Brown D) Amanda Hocking

B) Stephen King

51) Which of the following statements about the wholesale and agency models for selling books is not true? A) In the wholesale model, the retailer decides at what price to sell a book to the consumer. B) Amazon surprised traditional publishers by selling e-books for below their wholesale cost. C) Amazon supports the agency model. D) A result of the agency model was that Amazon's prices on e-books rose.

C) Amazon supports the agency model.

48) Which of the following was sued by the Justice Department for violating antitrust laws in connection with e-books? A) Amazon B) Google C) Apple D) Barnes & Noble

C) Apple

76) House of Cards is an online TV series developed by which of the following? A) Amazon Studios B) HBO C) Netflix D) Hulu

C) Netflix

Which of the following is another name for a private industrial network? A) industry consortia B) EDI system C) PTX D) PINS

C) PTX

Most inter-firm trade involves: A) spot purchasing of direct goods. B) contract purchasing of indirect goods. C) contract purchasing of direct goods. D) spot purchasing of indirect goods.

C) contract purchasing of direct goods.

41) Which of the following routes to a newspaper website generates the most digital ad revenue for the newspaper? A) via a search engine B) via a social media site such as Facebook C) directly to a newspaper's home page D) via an online video

C) directly to a newspaper's home page

All of the following have led to the development of outsourcing of manufacturing around the world except: A) technology. B) globalization of trade. C) environmental concerns. D) high levels of wage disparity between the developed and undeveloped worlds.

C) environmental concerns.

49) Over the past five years, book publishing revenues have: A) decreased slightly. B) increased steadily. C) remained stable. D) decreased sharply.

C) remained stable.

Analysts predict that B2B e-commerce in the United States will grow by 2020 to approximately: A) $9 billion. B) $90 billion. C) $900 billion. D) $9 trillion.

D) $9 trillion.

________ is defined as the use of digital technologies to permit organizations to work together to design, develop, build, and manage products through their life cycles. A) SCM B) Social e-commerce C) EDI D) Collaborative commerce

D) Collaborative commerce

39) Which of the following is not one of the top three players in e-book publishing? A) Barnes & Noble B) Apple C) Amazon D) Google

D) Google

77) Which of the following statements about mobile gaming is not true? A) Mobile games generated an estimated $3 billion in 2015. B) Mobile games have proven difficult to monetize. C) Mobile games appeal to a younger demographic than console games. D) Mobile games are expensive to develop.

D) Mobile games are expensive to develop.

A(n) ________ system continuously links the activities of buying, making, and moving products from suppliers to purchasing firms, as well as integrating order entry systems. A) EDI B) ERP C) CPFR D) SCM

D) SCM

55) Which of the following is not one of the three business models employed by newspapers between 1995 and 2015? A) The Print-centric model B) The Integrated Print/Web C) The Digital First model D) The Convergence model

D) The Convergence model

67) Which of the following statements about e-sports is not true? A) Colleges are beginning to offer scholarships for players on their video game teams. B) Twitch accounts for over 80% of the online e-sports viewing in the United States. C) At current rates of growth, e-sports will eclipse console game revenue by 2020. D) The e-sport audience is predominantly composed of females between the ages of 21 and 34.

D) The e-sport audience is predominantly composed of females between the ages of 21 and 34.

40) Which of the following is not an example of a native digital news site? A) Huffington Post B) Buzzfeed C) Vice D) USA Today

D) USA Today

A(n) ________ supply chain is one in which the labor conditions in low-wage, underdeveloped producer countries are visible and morally acceptable to ultimate consumers in more developed industrial societies. A) sustainable B) ethical C) lean D) accountable

D) accountable

Which of the following primarily involves long-term sourcing? A) e-distributors and exchanges B) e-distributors and industry consortia C) e-procurement Net marketplaces and exchanges D) e-procurement Net marketplaces and industry consortia

D) e-procurement Net marketplaces and industry consortia

Walmart's global supply chain has been criticized for all of the following except: A) exploiting labor in underdeveloped countries. B) bribing officials. C) wasting energy. D) failing to be efficient.

D) failing to be efficient.

Collaborative commerce systems: A) focus on structuring intra-firm communications. B) bring customers into the product development phase. C) provide open, competitive marketplaces. D) foster sharing sensitive internal information with suppliers and purchasers.

D) foster sharing sensitive internal information with suppliers and purchasers.

17) A business model that uses advertising revenue to provide some content for free, combined with an option to obtain additional content for a price is called a(n) ________ model. A) sales B) distribution C) a la carte D) freemium

D) freemium

70) Which of the following is not a leading factor in changing the television industry? A) increasing broadband penetration B) development of the mobile platform C) increased popularity of binge watching compared to watching linear TV D) inability to attract customers to traditional products

D) inability to attract customers to traditional products

13) The merger of media enterprises into powerful, synergistic combinations that can cross-market content on many different platforms is referred to as: A) aggregation. B) repackaging. C) media transformation. D) industry convergence.

D) industry convergence.

In 2016, the total amount of B2B e-commerce in the United States was approximately: A) $67 billion. B) $670 billion. C) $6.7 trillion. D) $67 trillion.

C) $6.7 trillion.

4) Music streaming is growing at ________ a year. A) 20% B) 30% C) 40% D) 50%

C) 40%

46) Around what percentage of Amazon's top 100 selling books are now self-published? A) 10% B) 25% C) 40% D) 50%

C) 40%

instant articles

new Facebook feature that inserts selected articles from mainstream news outlets in a user's news feed

Legacy computer systems

older mainframe systems used to manage key business processes within a firm in a variety of functional areas

what are MRO goods?

products for maintenance, repair, and operations

metered subscription

provides access to a limited number of articles for free, but requires payment of a subscription fee once that limit is exceeded

walled garden

refers to a kind of drm that uses proprietary file formats, operating systems, and hardware to control the use of content after initial sale.

digital rights management (drm)

refers to the combination of technical and legal means for protecting digital content from unlimited reproduction without permission

over-the-top (OTT)

use of the internet to deliver entertainment services to the home on cable TV or FiOS networks.

linear TV

watching a television series in installments over an entire season

binge watching

watching a television series in its entirety in single or multiple sittings in a brief period of time

36) Which of the following statements about the newspaper industry is not true? A) The growth of the mobile platform and social networks has potential to lessen the disruption of the newspaper industry. B) Online readership of newspapers is increasing. C) The emergence of search engines such as Google has had a major impact on the newspaper industry. D) Newspaper circulation revenues have declined by 10% since 2000.

A) The growth of the mobile platform and social networks has potential to lessen the disruption of the newspaper industry.

37) Which of the following statements about online magazine publishing is not true? A) The total magazine audience size decreased in 2015, due entirely to the growth of digital magazines. B) More than 35% of tablet computer owners read magazine content once a week. C) The percentage of adults who read digital edition magazines has more than quadrupled since 2011. D) A recent survey found that over 40% of those surveyed had read an average of 2.5 digital magazine issues in the past month.

A) The total magazine audience size decreased in 2015, due entirely to the growth of digital magazines.

An ________ provides an online catalog that represents the products of thousands of direct manufacturers. A) e-distributor B) e-procurement company C) exchange D) industry consortium

A) e-distributor

An ________ is an independently owned, online marketplace that connects hundreds to potentially thousands of suppliers and buyers in a dynamic, real-time environment. A) exchange B) e-distributor C) e-procurement company D) industry consortium

A) exchange

________ production is a set of production methods that focuses on the elimination of waste throughout the customer value chain. A) Green B) Sustainable C) Lean D) Just-in-time

C) Lean

The essential characteristic of ________ are they bring hundreds to thousands of suppliers into a single Internet-based environment to conduct trade. A) industry communications B) exchanges C) Net marketplaces D) horizontal markets

C) Net marketplaces

An ________ primarily serves businesses that buy direct goods on a spot purchasing basis. A) e-distributor B) e-procurement company C) exchange D) industry consortium

C) exchange