Stainless steel is an important raw material for an appliance company.Steel accounts for a high level of spend and is critical to customer satisfaction.Further,only three suppliers worldwide can produce steel to meet the company's quality standards.Which is appropriate in this situation?
A)Using electronic catalogs for steel.
B)Finding substitute materials.
C)Using competition to select suppliers.
D)Building collaborative partnerships with suppliers.

Question

Quizplus · Accepted Answer

Building collaborative partnerships with suppliers would be the best choice in this situation as steel is a critical raw material and only three suppliers can meet the company's quality standards. By building collaborative partnerships, the company can work closely with these suppliers to ensure a steady supply of high-quality steel, as well as potentially negotiate better pricing or terms. This approach is better than using electronic catalogs, finding substitute materials, or using competition to select suppliers, as these options may not provide the same level of assurance for quality and consistency of supply.

Stainless Steel Is an Important Raw Material for an Appliance