A comprehensive system,facilitated by software,that manages the firm's interactions with its supply base is:
A)Supplier certification.
B)Supplier scorecard.
C)Supplier relationship management.
D)Collaborative planning,forecasting,and replenishment.

Question

Quizplus · Accepted Answer

A comprehensive system that manages the firm's interactions with its supply base is Supplier Relationship Management (SRM). SRM includes processes for supplier selection, performance management, and collaboration. It is facilitated by software and helps to improve communication and collaboration between the firm and its suppliers. Supplier certification (A) is a process of evaluating and verifying the quality of a supplier's products or services. A supplier scorecard (B) is a tool for measuring and tracking supplier performance against key performance indicators. Collaborative planning, forecasting, and replenishment (D) is a supply chain management strategy that involves sharing information and coordinating plans with suppliers to improve inventory management and reduce costs. While each of these concepts is important for managing supply chain relationships, none of them fully encompasses the comprehensive system described in the question.

A Comprehensive System,facilitated by Software,that Manages the Firm's Interactions with Its