Businesses that engage in supply chain management work to establish long-term relationships with a small number of very capable suppliers who are called _____.
A) tier-one suppliers
B) primary suppliers
C) secondary suppliers
D) tier-two alliances

Question

Quizplus · Accepted Answer

Tier-one suppliers are referred to as strategic suppliers or key suppliers that have a significant impact on the supply chain management process of a firm. These suppliers are not only capable of providing high-quality goods and services at reasonable prices but also help in reducing costs and enhancing efficiency in the supply chain. Therefore, businesses that engage in supply chain management work to establish long-term relationships with tier-one suppliers to gain a competitive advantage in the market.

Businesses That Engage in Supply Chain Management Work to Establish