Purchasing Officer Question:
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Which process can be used to determine vendor's price reasonableness when lack of pricing information available?

Answer:

When there is a lack of pricing information available to determine price reasonableness, a cost analysis could be performed to evaluate and verify a vendor's cost data and proposed profit.

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Tell me what is benchmarking?Whose terms and conditions govern when a supplier sends a buyer their terms and conditions after buyer phones in an order, fails to send purchase order to supplier and accepts delivery?