What is one of the most common ways a company can decrease supplier power?
A)Charge lower prices.
B)Charge higher prices.
C)Use standardised parts so that it can easily switch suppliers.
D)Companies cannot impact supplier power.

Question

Quizplus · Accepted Answer

Using standardized parts makes it easier for a company to switch between suppliers because they are not reliant on specific suppliers for proprietary parts or components. This decreases the supplier's power and provides the company with more leverage in negotiations. Charging lower prices or higher prices may not be sustainable or feasible, and companies can have some impact on supplier power through effective management and negotiation strategies.

What Is One of the Most Common Ways a Company