Asked by Makayla Partain on Jul 29, 2024
Verified
The use of just-in-time,stockless buying or systems contracting favors the use of multiple sourcing.
Just-In-Time (JIT)
An inventory management strategy that aims to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.
Multiple Sourcing
A procurement strategy where a company uses several suppliers for a certain component or product to reduce dependency on a single source.
- Recognize the advantages and difficulties associated with single and multiple sourcing approaches.
Verified Answer
JM
Jazzy MooreJul 30, 2024
Final Answer :
False
Explanation :
Just-in-time, stockless buying, and systems contracting typically favor single sourcing to ensure reliability, consistency, and closer supplier relationships, which are crucial for these methodologies to work effectively.
Learning Objectives
- Recognize the advantages and difficulties associated with single and multiple sourcing approaches.