In the direct procurement of pharmaceutical raw materials, what term describes reducing the risk associated with a single-source supplier by developing and maintaining relationships with multiple suppliers of a critical component?
a) Single Sourcing
b) Dual Sourcing
c) Multi-Sourcing
d) Strategic Sourcing
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Which of the following is NOT a common method of pharmaceutical procurement?
a) Reverse Auction
b) Request for Proposal (RFP)
c) Just-in-Time (JIT) Inventory
d) Vendor Managed Inventory (VMI)
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