A company utilizing supplier relationship management (SRM) will be concerned primarily about which of the following factors when selecting a supplier?
A company utilizing supplier relationship management (SRM) will be concerned primarily about which of the following factors when selecting a supplier?
A company utilizing supplier relationship management (SRM) focuses on building long-term relationships with suppliers to create value and achieve competitive advantage. One of the key factors in SRM is the alignment of objectives and values between the company and its suppliers, which relates directly to the culture of the supplier. Ensuring a compatible culture allows for more effective communication, collaboration, and alignment of goals, which are crucial for a successful SRM implementation. Therefore, among the provided options, culture is the primary concern when selecting a supplier in an SRM framework.
When selecting a supplier, a company utilizing supplier relationship management (SRM) will be concerned primarily about risk aversion.
Why not B?
Visible charts tied to established team goals ensure that everyone is on the same page and understands the objectives. This approach provides clear expectations, promotes transparency, and encourages collaboration, making it an effective environment for managing change in an operation.