While Dealing with Suppliers, It Is Important To

question 26

Multiple Choice

While dealing with suppliers, it is important to:

• A) base purchasing decisions on cost; not quality.
• B) increase the number of suppliers.
• C) establish short-term contracts.
• D) measure and certify supplier performance.

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Definitions:

Prepurchase Evaluations

The process by which consumers assess and consider various products, brands, or services before making a purchase decision.

Search Credence Properties

Attributes of a product or service that are difficult to evaluate even after purchase and consumption, often requiring expertise or significant experience to assess.

Experience Properties

Characteristics of products or services that cannot be easily assessed before purchase and are primarily evaluated through direct experience, such as taste, satisfaction, or efficiency.

Legal Services

Refers to professional services provided by qualified lawyers or attorneys that encompass a wide range of legal advice, representation, and documentation.