CORe Exam Dumps | Which of the following is the PRIMARY reason for holding a business review with a supplier?

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Question 94/151

Which of the following is the PRIMARY reason for holding a business review with a supplier?

A. To determine whether the supplier should be moved to the strategic engagement tier

B. To strengthen the business relationship and to promote collaboration

C. To ensure that senior executives from both companies meet on a recurring basis

D. To review the supplier's cost performance relative to goals set for the year

Correct Answer: B

* Purpose of Business Review: Regular reviews are meant to foster collaboration, ensure alignment on goals, and address any issues proactively.
* Relationship Building: Strengthening the business relationship helps in fostering trust and long-term cooperation.
* Strategic Collaboration: By promoting collaboration, both parties can work together more effectively, potentially leading to innovation and continuous improvement.
References
* Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management. Cengage Learning.
* Burt, D. N., Petcavage, S. D., & Pinkerton, R. L. (2010). Supply Management. McGraw-Hill Education.

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