Today, rather than purchase goods and services from a large number of firms, manufacturers often try to develop a close relationship with one or two key suppliers.

Question

Quizplus · Accepted Answer

This statement is true. Many manufacturers have adopted the strategy of developing long-term relationships with a small number of suppliers in order to improve efficiency, reduce costs, and enhance the quality of the products they produce. This approach is known as strategic supplier management or supplier relationship management.

Today, Rather Than Purchase Goods and Services from a Large