A relationship between a firm and its supplier where the supplier agrees to meet the firms' quality standards and the firm enters into a long-term purchasing agreement with the supplier is known as
A)Outsourcing.
B)vertical integration.
C)partnering.
D)conformance.

Question

Quizplus · Accepted Answer

The relationship described in the question is known as partnering. It involves a close and collaborative relationship between the firm and its supplier, with the supplier agreeing to meet the firm's quality standards and the firm committing to purchasing from the supplier over the long-term. This type of relationship can lead to benefits such as improved quality, reliability, and cost efficiency.

A Relationship Between a Firm and Its Supplier Where the Supplier