COMPUTER APPLICATIONS
E COMMERCE AND E BUSINESS APPLICATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Supplier relationship management (SRM) is the systematic and ongoing practice of evaluating an organization’s vendors-of both goods and services-to determine whether any changes could be made to improve business operations.
Detailed explanation-2: -Supplier relationship management (SRM) is a business initiative that many companies undertake to build mutually beneficial relationships with suppliers. Well-designed SRM programs help companies to increase collaboration by identifying the right suppliers with whom to partner.
Detailed explanation-3: -Supplier relationship management (SRM) is a systematic approach to evaluating vendors that supply your organization with goods, materials and services. It’s one of the pieces that fall under the larger umbrella of supply chain management and is a key component to business success.
Detailed explanation-4: -Which of the following is true of supplier relationship management? It supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers.