GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a supplier with a good reputation is more likely to get more business compared to those with a poor reputation.
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if the supplier can’t deliver on time this can cause production to stop and customers may not get their order in time
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if the supplier has a poor reputation it will not have any impact on your business
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The supplier does not have any control over their reliability
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Detailed explanation-1: -Our findings suggest that reputation plays a crucial role more than classical criteria; in particular, suppliers, which serve a diversified customer portfolio or with strong exposure to premium brand customers have better chances to gain additional orders and broaden their customer base even more.
Detailed explanation-2: -Reliability is essential in implementing an operative supply chain management strategy since it enhances productivity and cuts costs. It also warrants inventory to be delivered to customers’ on-time. On-time, consistent performance is frequently attributed to shipper/carrier collaboration.
Detailed explanation-3: -DEFINITION OF A RELIABLE SUPPLIER Reliability is simply defined as the ability of a company to consistently supply an acceptable product at the required time. There are seven criteria by which reliability can be judged. Quality-A quality product must be consistently delivered that satisfies the customer’s needs.
Detailed explanation-4: -Reliability is one of the most important factors to take into account in selecting a supplier. Even once you have selected a supplier, you should regularly assess their ability to deliver orders to the correct specification and on time.