Question

1. Consider the different suppliers – which one would you select? What type of contract
would you use?

Answer 1

Explanation:

In the given question statement, there are no suppliers mentioned. However, we can have certain parameters for the selection of suppliers. These are;

• Cultural Fit – including values, how well the supplier understands company values.
• Cost – One of the deciding factors
• Value – Does the product is adding value to the company’s business
• Experience in the market and current references
• Flexibility and Response to change – in orders and products
• Quality – covering product and service quality and quality history