The First Step in a Supply Base Optimization Effort Is

question 11

Multiple Choice

The first step in a supply base optimization effort is

• A) determine the appropriate number of suppliers for the item(s).
• B) analyze the company's buying patterns.
• C) examine offshore decisions for reshoring opportunities.
• D) establish a goal for total spend reduction.

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Definitions:

Exporting

The act of sending goods or services to another country for sale.

Trademarks

Trademarks are distinctive signs or symbols used by businesses to identify their products or services uniquely from those of competitors, providing legal protection against infringement.

Managerial Support

The assistance and resources provided by managers to their team to achieve set objectives and improve performance.

Turnkey Project

A turnkey project is a type of project that is constructed so that it can be sold to any buyer as a completed product. This is common in international business in industries such as manufacturing and real estate.