Which of the Following Steps for Supplier Development Occurs When

question 36

Multiple Choice

Which of the following steps for supplier development occurs when there is an agreement about how the supplier needs to improve and where?

• A) identify key projects
• B) monitor status and modify strategies
• C) define details of agreement
• D) form cross-functional teams
• E) identify critical products and services

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Definitions:

Contingent Liability

A potential financial obligation that may arise depending on the outcome of a future event.

Likelihood

The probability or chance of an event occurring.

Contingency

An uncertain future event that could affect financial performance or outcomes.

Employee Earnings Record

A cumulative record of each employee’s gross earnings, deductions, and net pay during the year.