_____ seeks to maximize the benefits of collaboration between the buyer and a few suppliers.
A) Strategic sourcing
B) Adversarial purchasing
C) Single sourcing
D) Partnership purchasing
E) Outsourcing

Question

Quizplus · Accepted Answer

Partnership purchasing seeks to maximize the benefits of collaboration between the buyer and a few suppliers. This approach involves building long-term relationships with a small number of suppliers who are viewed as strategic partners. These suppliers are involved in the buyer's strategic decision-making and product development processes, and they work closely with the buyer to optimize supply chain performance and reduce costs. Partnership purchasing is a key element of strategic sourcing, which aims to improve the overall effectiveness of the procurement function. Adversarial purchasing, single sourcing, and outsourcing are all different approaches to procurement that do not necessarily involve close collaboration between the buyer and suppliers.

_____ Seeks to Maximize the Benefits of Collaboration Between the Buyer