Please assist and kindly advise, thanks Supplier relationship management is becoming more important and firms are creating long term relationships with their supply base duringthe following period:O A. The global eraO B. Integrated supply chain managementO C. Supply chain management 2.0O D. Integrated supply chain management 2.0

Answered: Supplier relationship management is…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Please assist and kindly advise, thanks

Supplier relationship management is becoming more important and firms are creating long term relationships with their supply base during
the following period:
O A. The global era
O B. Integrated supply chain management
O C. Supply chain management 2.0
O D. Integrated supply chain management 2.0

Expert Solution

Step 1

Supplier relationship management is described as firms taking the initiative to build a relationship with the suppliers that will benefit them mutually. The thoroughly designed supplier relationship management programs are effective in assisting firms to establish better relationships with their suppliers. Furthermore, it also allows the firms to reduce operational risks, mitigate risks, and assist suppliers so that they can innovate.