A relationship that exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost and/or increasing the value of products and services delivered to the ultimate consumers is known as:
A)supply partnership.
B)a reciprocal arrangement.
C)exclusive dealing.
D)review marketing.

Question

Quizplus · Accepted Answer

A supply partnership is a collaborative relationship between a buyer and its supplier with the aim of driving down costs and improving the quality of products and services that consumers receive. The partnership is built on mutual trust, open communication, and shared objectives, policies, and procedures. The parties work together to streamline processes, optimize production, reduce waste, and enhance efficiencies. The benefits of this approach include increased competitiveness, improved customer satisfaction, and enhanced profitability. Therefore, option A) is the best choice.

A Relationship That Exists When a Buyer and Its Supplier