ITM 350 Chapter 8: ITM 350 Chapter 8 Notes.docx
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Staff will be able to focus effects on more important tasks, such as strategic sourcing and supplier relations. Consolidating buying from a small number of approved suppliers, so employees can only buy from trusted suppliers. Maverick buying the unauthorized purchase of goods by employees through non-routine and poorly controlled means, such as acquiring office supplies with petty cash. Vertical trading exchanges are ones that have a specific market focus, such as health care or energy products and services. Horizontal trading exchanges are ones that have a product or service focus, such as computers or office equipment, and that do not target any specific industry. Private exchanges are ones that limit participation to specific buyers and sellers normally related to the exchange providers supply chain. Public exchanges are ones in which buyers and sellers register to join, and there are few limitations to joining.