In the Assess Supply Market step, the firm:
A) determines which are the least cost vendors.
B) decides which vendors are located closest to the firm's plant to insure timely delivery.
C) identifies all possible suppliers that might be able to satisfy the user's needs.
D) defines the parameters of the sourcing strategy process.

Question

Quizplus · Accepted Answer

In the Assess Supply Market step, the firm identifies all possible suppliers that might be able to satisfy the user's needs. This step involves researching and collecting information on potential vendors, evaluating their capabilities, and identifying their strengths and weaknesses. The goal is to create a pool of qualified suppliers that can potentially meet the firm's needs. The other options, such as determining least-cost vendors or defining the parameters of the sourcing strategy process, come later in the sourcing process.

In the Assess Supply Market Step, the Firm