A relationship that 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 is referred to as a __________.
A)binding partnership
B)channel partnership
C)restricted relationship
D)supply partnership
E)symbiotic partnership

Question

Quizplus · Accepted Answer

A supply partnership is a type of relationship between a buyer and supplier where they work together towards common goals of lowering costs and increasing the value of goods and services for the end customer. This type of partnership typically involves open communication, collaboration, and a focus on long-term benefits for both parties.

A Relationship That Exists When a Buyer and Its Supplier