One of the most important objectives of the purchasing function is the selection, development, and maintenance of suppliers, a process that is sometimes described as _____.
A)supplier performance management
B)category management
C)customer service
D)procure-to-pay
E)maverick buying

Question

Quizplus · Accepted Answer

Supplier performance management refers to the process of selecting, developing, and maintaining suppliers to ensure that they meet or exceed expectations in terms of quality, cost, delivery, and innovation. This is a critical objective of the purchasing function as it affects the organization's ability to meet its own goals and objectives. The other options listed are either unrelated (e.g. customer service) or refer to specific aspects of the procurement process (e.g. category management, procure-to-pay, maverick buying).

One of the Most Important Objectives of the Purchasing Function