In ______________ Component of Supply Chain Management, Companies Must Carefully

question 90

Multiple Choice

In ______________ component of supply chain management, companies must carefully choose reliable suppliers that will deliver goods and services required for making products, and develop a set of pricing, delivery, and payment processes with suppliers and create metrics for monitoring and improving the relationships.

• A) Plan
• B) Source
• C) Cost
• D) Deliver

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Definitions:

Stakeholders

Individuals or groups that have an interest or stake in the outcomes of a project, decision, or organization.

Corporate Social Responsibility

A business model that helps a company be socially accountable—to itself, its stakeholders, and the public. By practicing CSR, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.

Legal Requirements

The obligations or standards that are legally enforced, which an individual or organization must follow to comply with the law.

Environmental Law

The body of laws and regulations that are designed to protect the environment and regulate human activities that may harm it.