On occasion,firms assist suppliers,new or old,to improve their processing capabilities,product or service quality,delivery effectiveness,and cost performance by providing the required technical and financial assistance.This is referred to as:

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The practice described is known as supplier development, which involves firms assisting suppliers in improving their processing capabilities, product or service quality, delivery effectiveness, and cost performance through technical and financial assistance. Outsourcing refers to the practice of contracting out business functions or processes to external parties. Centralized purchasing involves a single department or individual being responsible for purchasing decisions for an entire organization. Supplier hybridization is not a recognized term in the field of supply chain management.

On Occasion,firms Assist Suppliers,new or Old,to Improve Their Processing Capabilities,product