________ is a process for developing relationships with few suppliers for long contract terms.
A) Single sourcing
B) Gap analysis
C) Supplier rationalization
D) Segmentation
E) Source loyalty

Question

Quizplus · Accepted Answer

Single sourcing is a process of building relationships with a limited number of suppliers for a long-term period. It involves selecting one supplier for a particular product or service instead of working with multiple suppliers. It provides stability to the supplier and ensures a consistent quality of supply. It also enables companies to reduce their administrative and procurement costs. Therefore, option A is the correct answer.

________ Is a Process for Developing Relationships with Few Suppliers