Asked by Jordan Parker on Jul 22, 2024
Verified
Characteristics of JIT partnerships with respect to suppliers include
A) competitive bidding encouraged.
B) buyer plant pursues vertical integration to reduce the number of suppliers.
C) support suppliers so they become or remain price competitive.
D) most suppliers at considerable distance from purchasing organization.
E) buyer plant demanding that suppliers relocate their business.
JIT Partnerships
Collaborations between suppliers and manufacturers that follow Just-In-Time inventory principles to reduce waste and increase efficiency.
Competitive Bidding
A procurement process where suppliers submit their bids to win a contract, based on price and/or other criteria.
Vertical Integration
Developing the ability to produce goods or services previously purchased or actually buying a supplier or a distributor.
- Identify the advantages and obstacles associated with Just-In-Time partnerships with suppliers.
Verified Answer
Learning Objectives
- Identify the advantages and obstacles associated with Just-In-Time partnerships with suppliers.
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