A __________ exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost of and/or increasing the value of goods and services delivered to the ultimate customer.
A)binding partnership
B)company partnership
C)restricted relationship
D)supply partnership
E)symbiotic partnership

Question

Quizplus · Accepted Answer

A supply partnership is a collaborative relationship between a buyer and supplier where both parties work together to achieve common goals and improve the efficiency of the supply chain. This partnership aims to reduce the cost of goods and increase customer satisfaction by sharing information, resources, and risks. It is not a binding partnership as both parties remain independent, nor is it a company partnership as it involves two separate companies working together. It is not a restricted relationship as there are no restrictions or limitations placed on the partnership. While a symbiotic partnership may seem like a good choice, it is not a commonly used term in supply chain management and may not accurately describe this type of relationship.

A __________ Exists When a Buyer and Its Supplier Adopt