When considering a potential supplier to work with, businesses should think about the suppliers:

INVENTORY AND PRODUCTION MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

When considering a potential supplier to work with, businesses should think about the supplier’s:

A	Price
B	Lead time
C	Credit terms
D	Reputation
E	Location

Explanation:

Detailed explanation-1: -Choosing the right supplier involves much more than scanning a series of price lists. Your choice will depend on a wide range of factors such as value for money, quality, reliability and service. How you weigh up the importance of these different factors will be based on your business’ priorities and strategy.

Detailed explanation-2: -Supplier Location It is imperative to position a warehouse strategically in order to reduce the risk of delays of goods from suppliers as a result of delays experienced along the transit route. The fewer links there are, the lower the risk of delays and disruptions.

There is 1 question to complete.

ECONOMICS

COST ACCOUNTING

INVENTORY AND PRODUCTION MANAGEMENT