According to the business information system, in the context of Internet-enabled supply chain management (SCM), the SCM activity which involves bargaining and renegotiating prices and term agreements is "Purchasing or Procurement."
This is because the Purchasing or Procurement activities involve getting and accepting deals or contracts of purchasing commodities from the seller.
Purchasing or Procurement activity typically involves the process of tendering and bidding process.
Hence, in this case, it is concluded that the correct answer is "Purchasing or Procurement."
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