Supplier Management

Sources for finding potential suppliers are:

Trade journals, company employees, internet

A situation in which a buyer has limited supplier options, is procuring a critical item, needs technology innovation, or is concerned about the availability of supply is described by what relationship?

Collaborative relationship

What is Supplier Relationship management(SRM)?

It involves taking care of the most important suppliers. It also includes the overall management and strategic decision making that goes into a company's purchasing strategy

Peter Kraljic, a former director of Mckinsey & Company Inc., (1983) argued that supply items should be mapped against two key dimensions. These dimensions include...

risk and profitability

Which of the following are steps in Supplier Relationship Management?

supplier segmentation, supplier strategy development, supplier strategy execution

Big Company, inc. currently sources most of their pens, staples, and sticky notes from Office Depot. Managers typically order these supplies as needed through a catalogue that has been set up by one of the company's procurement agents. Big Company, inc. has a ________ relationship with Office Depot.Which word should be in the blank space in the above paragraph:

transactional