Suppose Zara Has a Linked Supply Chain with Silk City

question 27

Multiple Choice

Suppose Zara has a linked supply chain with Silk City, a fabric supplier. Zara and Silk City use IT to seamlessly exchange data, communicating requirements as well as delivery expectations. The relationship between Zara and Silk City is best described as:

• A) Strategic alliance
• B) Co-opetition
• C) Collaboration
• D) Dependence
• E) Competition

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Definitions:

Verbal Agreement

denotes a contract or agreement made through spoken words rather than written documents, which can be legally binding if it meets specific criteria.

Enforceable

Refers to a contract or clause that is legally binding and can be upheld in court.

Job Loss

The instance of losing one's employment, often due to layoffs, company closure, or termination.

Verbal Promise

An agreement or commitment made orally rather than in written form; its enforceability varies depending on the nature of the agreement and the context under law.