Question 1Benefits of e-procurement over traditional procurement methods include all of the following EXCEPT:A. increasing the productivity of purchasing agents.B. lowering purchase prices through product standardization reverse auctions volume discounts and consolidation of purchases.C. increasing the skill requirements and training needs of purchasing agents.D. streamlining invoice reconciliation and dispute resolution.Question 2In general the benefits of contract-management software include all of the following EXCEPT:A. reducing contract negotiation time and efforts.B. reducing contract-related risksC. providing more efficient approval processes.D. enabling standardization of contracts throughout the enterprise.Question 3A third party that operates an exchange and in many cases also owns the exchange is known as a(n):A. intermediary.B. market maker.C. negotiator.D. agent.Question 4ChemConnect is an example of a successful e-exchange with:A. many buyers and many sellers.B. few buyers and few sellers.C. many buyers and one seller.D. many buyers and few sellers.