The traditional approach to purchasing and supply management is to build relations with suppliers to jointly pull costs out of the product or service and expect suppliers to contribute innovate ideas that continually add value to a firm's products and services.

Question

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The traditional approach to purchasing and supply management often focused on cost minimization and transactional relationships with suppliers, rather than building long-term partnerships for joint innovation and value addition.

The Traditional Approach to Purchasing and Supply Management Is to Build