A business relationship in which a supplier agrees to meet a company's quality standards,and in return the company enters into a long-term purchasing agreement with the supplier is referred to as
A)a QMS contract
B)ISO:9001 certification
C)a supplier engagement contract
D)Partnering

Question

Quizplus · Accepted Answer

Partnering refers to a business relationship where both parties agree to cooperate for their mutual benefit, such as a supplier meeting a company's quality standards in exchange for a long-term purchasing agreement. This approach fosters a collaborative environment rather than a traditional buyer-supplier dynamic.

A Business Relationship in Which a Supplier Agrees to Meet