__________ exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate customer.
A) supplier development agreement
B) reciprocal arrangement
C) shareholder relationship
D) supply partnership
E) strategic alliance

Question

Quizplus · Accepted Answer

The term that best describes the scenario provided in the question is "supply partnership." This is a type of relationship where the buyer and supplier work together to improve the delivery of products and services to the end customer. This involves establishing mutually agreed-upon objectives, policies, and procedures to lower costs and increase value. The other choices are not as applicable - a supplier development agreement is focused more on improving the capabilities of a supplier, a reciprocal arrangement suggests more of an equal exchange of goods or services, a shareholder relationship pertains to ownership in a company, and a strategic alliance is a broader term that may encompass various types of partnerships.

__________ Exists When a Buyer and Its Supplier Adopt Mutually