CORe Exam Dumps | A large manufacturing firm has offices across the country. The company wants to obtain the best price

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HBX.CORE.v2024-11-30.q151
Question 33

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Question 33/151

A large manufacturing firm has offices across the country. The company wants to obtain the best price and reduce administrative costs associated with procuring office supplies. Which of the following would be BEST suited to the firm's needs?

A. Blanket agreement

B. Indefinite delivery contract

C. Master purchasing agreement

D. Manufacturing resource planning

Correct Answer: A

A blanket agreement is best suited to the firm's needs to obtain the best price and reduce administrative costs for procuring office supplies. A blanket agreement allows the company to negotiate a fixed price for supplies over a specified period and simplifies the procurement process by reducing the need for multiple purchase orders. This type of agreement can leverage the firm's total buying power to achieve cost savings and reduce the administrative burden associated with frequent individual purchases.
References:
* Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2015). Purchasing and Supply Chain Management.
* ISM (Institute for Supply Management). (2020). ISM Glossary of Key Supply Management Terms.

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