The Key to Effective Supply-Chain Management Is to Get Many

question 111

True/False

The key to effective supply-chain management is to get many suppliers to compete with each other, in order to drive down prices.

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Definitions:

Norm

A standard or guideline that is accepted and expected within a group, culture, or society, dictating behavior that is considered normal or appropriate.

Reciprocity

A social exchange principle where the actions of one party lead to a response by another party, typically in a manner that mirrors the original action.

Norm Of Reciprocity

A social expectation that dictates individuals should return favors and kindnesses that others have provided to them, creating a basis for cooperative behavior.

Social Exchange

A concept proposing that the formation of human connections is guided by an individual assessment of potential gains and losses, alongside an evaluation of other options.