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Institute For Supply Management
A professional organization that provides education, research, and certification for supply management and procurement professionals.
Few Suppliers
Refers to a supply chain strategy where a company relies on a limited number of suppliers for its raw materials or components, aiming to build closer, more collaborative relationships and ensure better quality control.
Vertical Integration
A strategy where a company expands its business operations into different steps on the same production path, such as when a manufacturer owns its supplier and/or distributor.
Economies Of Scale
The cost advantage achieved by businesses when production becomes efficient, leading to a lower cost per unit as output increases.
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