Early supplier involvement:
A) Is a strategy of attempting to influence demand for products made by a firm so that the supply chain can be managed most efficiently
B) Is an outsourcing strategy whereby companies use suppliers to help design new products or processes
C) Is defined as the process of designing and managing supply networks to optimize operational and organization performance
D) Means the suppliers schedule their own manufacturing based on the shipment needs of their customers
E) Is to have several vendors for each product in order to increase competition for the buyer's business

Question

Quizplus · Accepted Answer

Early supplier involvement refers to involving suppliers in the design and development process of a product or process. This strategy allows companies to benefit from supplier expertise and knowledge and can result in a more efficient and effective supply chain. It is not related to influencing demand, optimizing supply networks, or scheduling manufacturing based on customer needs. Having several vendors for each product is a strategy referred to as supplier diversity.

Early Supplier Involvement