ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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More oriented to building long-term relationshipswith fewer, but more dependable suppliers.
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Contemporary procurement
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Traditional procurement
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Traditional Purchasing
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Contemporary purchasing
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Explanation:
Detailed explanation-1: -Building a long term healthy relationship between supplier and organisation will allow for ideas and feedback to be passed between the two. This will allow for the improvement of operations, streamlining the supply chain and reducing costs in addition to improving customer service.
Detailed explanation-2: -The term procurement strategy refers to a long-term plan to build strategic relationships with competitive suppliers to acquire the necessary goods and services of the best quality in a specific cost range and have them delivered on time .
Detailed explanation-3: -Arms-length. Partnership. Just in Time (JIT) Strategic alliance. Outsourcing/Subcontracting. 16-Feb-2023
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