What are the four stages of supplier selection?
A) supplier evaluation, supplier development, negotiations, and contracting
B) supplier evaluation, negotiations, supplier acquisition, and supplier development
C) introduction, growth, maturity, and decline
D) supplier evaluation, supplier development, negotiations, and centralized purchasing
E) negotiations, contracting, centralized purchasing, and E-procurement

Question

Quizplus · Accepted Answer

The four stages of supplier selection are supplier evaluation, supplier development, negotiations, and contracting. In the evaluation stage, potential suppliers are assessed based on various factors such as quality, cost, and delivery time. In the development stage, suppliers are provided with feedback and training to improve their performance. Negotiations involve discussing prices, terms, and conditions with the chosen supplier. Finally, a contract is signed with the selected supplier. Option B is incorrect as supplier acquisition is not a stage in supplier selection. Option C refers to the stages of a product life cycle and not supplier selection. Option D is incorrect as centralized purchasing is not a stage in supplier selection. Option E includes centralized purchasing and e-procurement, which are not stages in supplier selection.

What Are the Four Stages of Supplier Selection