Some Strategic Supplier Agreements Reward the Highest Performing Suppliers with a Share

question 13

True/False

Some strategic supplier agreements reward the highest performing suppliers with a share of the cost reductions resulting from supplier improvements,additional purchasing contracts,or contract extensions on existing contracts.

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Definitions:

Sharecropping Contract

An agricultural system prevalent after the Civil War where landowners allowed tenants to use the land in return for a portion of the crops produced on their portion of land.

Economic Slavery

Describes a condition where individuals are so financially indebted or economically constrained that they have no choice but to work for minimal pay, effectively being bound to their employers.

Ex-Slave

A person who was formerly enslaved but has since gained freedom, either through legal emancipation, escape, or the end of slavery as an institution.

Abraham Lincoln

The 16th President of the United States, who led the country during the Civil War and issued the Emancipation Proclamation.