A comprehensive approach to managing an enterprise's interactions with the organizations that supply the goods and services it uses best defines
A) customer relationship management.
B) supply chain management.
C) partnership relationship management.
D) supplier relationship management.

Question

Quizplus · Accepted Answer

Supplier relationship management is the comprehensive approach to managing an enterprise's interactions with the organizations that supply the goods and services. It includes identifying the supplier, negotiating contracts, managing orders, and ensuring the quality of goods and services received. Supply chain management is a broader concept that encompasses the management of all activities involved in the production and delivery of products and services, from the procurement of raw materials to the delivery of the final product to the customer. Customer relationship management focuses on managing interactions with customers to build long-term, profitable relationships. Partnership relationship management is a term that can be used interchangeably with supplier relationship management or broader concept of strategic relationship management.

A Comprehensive Approach to Managing an Enterprise's Interactions with the Organizations