Asked by Tonya Trisko on May 27, 2024

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The role of supply management is best captured by the following question:

A) How can supply help suppliers decrease costs?
B) How can supply and suppliers help decrease costs and increase revenues?
C) How can supply and suppliers help decrease costs?
D) How can supply help decrease costs and increase revenues?
E) How can supply help decrease costs?

Supply Management

The process of managing the acquisition of goods and services for an organization, focusing on optimizing cost, quality, and delivery.

Decrease Costs

The process or strategy of reducing the amount of money required for operations, production, or other activities within an organization.

Increase Revenues

The process of enhancing the income generated by a business through either increased sales, improved pricing strategies, or expanding market reach.

  • Recognize the significance of the supply department's strategic contribution to the overarching organizational strategy and its impact on competitive advantage.
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KG
Keshav GuptaMay 28, 2024
Final Answer :
B
Explanation :
B) How can supply and suppliers help decrease costs and increase revenues? - This option best captures the role of supply management as it encompasses both cost reduction and revenue enhancement, which are key objectives in managing supply chains effectively. Supply management not only focuses on minimizing costs through efficient procurement practices but also seeks to contribute to revenue growth by ensuring the timely availability of quality inputs and fostering strong supplier relationships.