A relationship that exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate customer is referred to as a __________.
A)supply partnership
B)supplier development agreement
C)reciprocal arrangement
D)shareholder relationship
E)strategic alliance

Question

Quizplus · Accepted Answer

A supply partnership involves both the buyer and the supplier working together towards mutually beneficial goals such as increasing efficiency, minimizing waste, or improving product quality. It is a strategic, long-term relationship that focuses on enhancing the value of products and services for the end customer, rather than simply lowering costs or increasing profits for either party. Supplier development agreements, reciprocal arrangements, and strategic alliances are all similar concepts but may not necessarily involve a focus on lowering costs or increasing value for the end customer. A shareholder relationship refers to a relationship between a company and its investors, and is not relevant to the context of buyer-supplier relationships.

A Relationship That Exists When a Buyer and Its Supplier