Supplier relationship management includes motivation,assistance,incentives,cooperation,collaboration and on occasion,penalties.

Question

Quizplus · Accepted Answer

Supplier relationship management involves various strategies and techniques to foster and maintain a positive and collaborative relationship with suppliers. Motivation, assistance, incentives, cooperation, and collaboration are some of the essential elements of effective supplier relationship management. However, penalties may also be necessary in certain situations when suppliers fail to meet the agreed-upon standards or requirements. Therefore, the statement is true.

Supplier Relationship Management Includes Motivation,assistance,incentives,cooperation,collaboration and on Occasion,penalties