Question

Explain the import management for planning and identification of supplier.

Answer 1

Step 1: Conduct an internal needs analysis.

Step 2: Conduct an assessment of the supplier's market.

Step 3: Collect supplier information.

Step 4: Develop a sourcing/outsourcing strategy.

Step 5: Implement the sourcing strategy.

Step 6: Negotiate with suppliers and select the winning bid.

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