A _____ status generally means that a supplier is assured a large percentage of the buyer's business and first chance at any new business.
A) Preferred supplier
B) Committed supplier
C) Specified supplier
D) Contractual supplier
E) Forced supplier

Question

Quizplus · Accepted Answer

A preferred supplier status generally means that a supplier is assured a large percentage of the buyer's business and first chance at any new business. A committed supplier status may indicate that the buyer has made a long-term commitment to the supplier, but it does not necessarily guarantee a large percentage of the buyer's business or first chance at new business. A specified supplier may only be designated for certain products or services, not necessarily for a large percentage of the buyer's overall business. Contractual supplier and forced supplier statuses are not commonly used business terms.

A _____ Status Generally Means That a Supplier Is Assured