Which of the following is the sequence of activities in the Source-to-Settle Process in SRM?
A)Supplier Identification & Selection,Requests for Quotation (RFQ),Manage Auctions & Bidding,Establish & Manage Contracts,Monitor Supplier Relationships
B)Requests for Quotation (RFQ),Supplier Identification & Selection,Manage Auctions & Bidding,Establish & Manage Contracts,Monitor Supplier Relationships
C)Requests for Quotation (RFQ),Supplier Identification & Selection,Establish & Manage Contracts,Manage Auctions & Bidding,Monitor Supplier Relationships
D)Supplier Identification & Selection,Requests for Quotation (RFQ),Establish & Manage Contracts,Manage Auctions & Bidding,Monitor Supplier Relationships

Question

Quizplus · Accepted Answer

The correct sequence in the Source-to-Settle Process in SRM starts with identifying and selecting suppliers, followed by requesting quotations, managing auctions and bidding, establishing and managing contracts, and finally monitoring supplier relationships. This sequence ensures a comprehensive approach to supplier management from identification to relationship monitoring.

Which of the Following Is the Sequence of Activities in the Source-To-Settle