Learning Goal: I’m working on a supply chain exercise and need an explanation and answer to help me learn.
Procurement officers and the U.S. government must follow rules for contracting and procurement, referred to as Federal Acquisition Regulations (FARs). Review Selecting the Type of Contract and Part 16 – Types of Contracts | Acquisition.GOV. Summarize the five basic types of contracts described in the FARs and, in your own words, list the four key factors to consider when selecting the type of contract.
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