Match the Following Terms with Their Definitions

question 9

Multiple Choice

Match the following terms with their definitions:
-Assessment

• A)magnitude of the potential loss
• B)result of judging the worth or value of something or someone
• C)the possibility of suffering harm or loss because of an event

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Definitions:

Buyer-supplier Satisfaction Matrix

A tool used to evaluate and improve the relationship between buyers and suppliers by mapping out satisfaction levels of both parties.

Strategic Supply Management

The process of planning, implementing, and controlling the operations of the supply chain in a strategic manner to achieve competitive advantage.

Competitive Edge

An advantage that allows an organization to outperform its competitors, achieved through superior products, processes, or strategies.

Supplier Relationships

The interaction and cooperation between businesses and their suppliers, aimed at achieving mutual benefits and ensuring a stable supply chain.