________ is an agreement where a buyer chooses only one or a few suppliers for its raw materials.
A) Just-in-time supply
B) Sole-sourcing
C) Singular-supply
D) Lone-sourcing

Question

Quizplus · Accepted Answer

Sole-sourcing is an agreement where a buyer chooses only one or a few suppliers for its raw materials. This is done to establish a long-term relationship with the supplier and often results in better pricing and quality control. Just-in-time supply refers to a system of manufacturing or inventory management in which parts or materials are delivered immediately before they are needed in production. Singular-supply and lone-sourcing are not commonly used terms in supply chain management.

________ Is an Agreement Where a Buyer Chooses Only One