Identify the Advantages and Disadvantages of Using the "Few Suppliers

question 12

Essay

Identify the advantages and disadvantages of using the "few suppliers" sourcing strategy.

---

Definitions:

Escalation Of Commitment

A decision-making error in which individuals or groups continue to invest in a failing course of action based on the time, money, or resources they have already committed.

Systematic Way

An organized, methodical approach to procedures or activities, often characterized by order and planning.

Positive Mood

A psychological state characterized by feelings of joy, satisfaction, and increased energy.

Decision Making

The act of making choices by identifying a decision, gathering information, and assessing alternative resolutions.