Asked by Matthew Castanon on Jun 28, 2024
Verified
There is not one best way for all organizations to organize and manage the supply function,conduct activities,and effectively integrate suppliers.
Supply Function
A mathematical model that describes the quantity of goods that producers are willing and able to sell at different prices, assuming other factors remain constant.
Integrate Suppliers
The process of closely combining the operations, systems, or processes of suppliers with those of the purchasing company to improve efficiency and coordination.
Conduct Activities
The process of organizing, directing, and overseeing actions or operations in various settings or projects.
- Recognize the evolution of supply management from a transactional to a strategic function.
Verified Answer
SP
Shilvi PatelJun 30, 2024
Final Answer :
True
Explanation :
Every organization has unique needs and requirements based on factors such as industry, size, and strategy. Therefore, there is no one-size-fits-all approach to organizing and managing the supply function and integrating suppliers. Organizations must develop a supply chain strategy that aligns with their specific goals and optimize their processes accordingly.
Learning Objectives
- Recognize the evolution of supply management from a transactional to a strategic function.