Purchasing and Supply Chain Management
6th Edition
ISBN: 9781305809789
Author: MONCZKA
Publisher: Cengage
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Chapter 7, Problem 1DQ
Summary Introduction
To discuss: Why organizations commit time and resources to evaluate suppliers.
Introduction: Supply management is the process of managing the suppliers and raw materials or resources that are essential for the organization’s operations.
Expert Solution & Answer
Explanation of Solution
Discuss why organizations commit time and resources to evaluate suppliers:
Evaluation of suppliers is important for any firm to choose the effective suppliers. It will help the firm to increase the market share and to improve the profit of the firm.
The firm might end up choosing ineffective or poor supplier if it does not evaluate the factors before choosing a supplier. A bad supplier will bankrupt the company through poor product quality and costly products.
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Purchasing and Supply Chain Management
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