Question

What are some similarities between procurement in the public and private sector? A) Financial management, negotiations, purchasing, contract administration, and evaluation are all tasks are all tasks central to the achievement of cost-effectiveness in the public and private sector alike B) The socialization and bidding process are for the most part identical C) Utilization of automated purchasing systems for transaction processing and tracking as well as execution of multi-year contracts are common trends in both sectors D) A and C only E) A, B, and C

Answer 1

Similarities between procurement in the public and private sector include financial management, negotiations, purchasing, contract administration, evaluation, the socialization and bidding process, and utilization of automated purchasing systems and execution of multi-year contracts.

Step-by-step explanation:

A) Financial management, negotiations, purchasing, contract administration, and evaluation are all tasks central to the achievement of cost-effectiveness in the public and private sector alike. C) Utilization of automated purchasing systems for transaction processing and tracking as well as execution of multi-year contracts are common trends in both sectors. Therefore, the correct answer is E) A, B, and C.