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When you establish a good working relationship with a particular supplier you should make all of your purchases from that supplier?
While establishing a good working relationship with a supplier can lead to benefits like better pricing, reliability, and service, it is not always advisable to make all purchases from one supplier. Diversifying suppliers can mitigate risks such as supply chain disruptions, price fluctuations, and quality issues. Additionally, exploring multiple suppliers can foster competition and innovation, ultimately benefiting your business. Balancing loyalty with strategic sourcing is key to maintaining a resilient supply chain.
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Once you establish a good working relationship with a particular supplier you should make all of your purchases from that supplier.?
FALSE You are not allowed to use the same vendor continously. This allows all businesses to thrive.
Difference between credit sales and credit purchases?
credit sales are sales you have made on credit, so they still owe you the money for that item. credit purchases are things you have purchased from your suppliers on credit and therefore you owe the money for
What is a sole supplier?
It is the "Only" supplier.
What is function of nominated supplier?
A nominated supplier is a vendor designated by a buyer to provide specific goods or services, often based on established trust, quality, or contractual agreements. The function of a nominated supplier includes ensuring timely delivery, maintaining quality standards, and often offering preferential pricing or terms. This arrangement helps streamline procurement processes and fosters a closer working relationship between the supplier and buyer. Additionally, it can reduce risks associated with sourcing from multiple suppliers.
How is supplier cost related to supplier price?
Supplier cost is usually lower than supplier price because once something has been bought, the supplier would mark up the price in order to make a profit.
Once you establish a good working relationship with a particular supplier you should make all of your purchases from that supplier.?
FALSE You are not allowed to use the same vendor continously. This allows all businesses to thrive.
What entry is to be passed in credit note?
Debit Purchases and Credit Supplier.
How do you create supplier relationship?
my name jagroshan yadav 28 year old my relationship girls supplier
What are the Advantages of single supplier?
lower cost, propitiatory process and product establish a good relationship,protect the trade name, transportation economics,volume too small to split.
What do you debit and credit for purchase returns?
Debit the supplier Credit the Purchases Returns account
What is SRM?
Supplier Relationship Management
What is customer allegiance?
a duty of fidelity that a client feels towards the provider of a service or the supplier of a product in such a way that both parties establish a long lasting relationship. This exchange is encouraged by the supplier or provider, who gives the client special treatment that aims to retain the profitable client.
Different types of supplier relationship strategies?
the different type of supplier relationship strategy includes: 1. Adversarial or 'Arm Length' relationship 2. Collaborative relationship 3. Partnership 4. Integration 5. codestiny
Define highly collaborative relationship with select suppliers?
a collaborative relationship is where there is a a good supplier/buyer relationship
What do I need to give to the equipment rental supplier as far as deposits?
There is no fixed deposit figure. What you will have to deposit depends on the particular rental supplier.
What is the purpose of supplier relationship management?
Supplier relationship management is basically building better relationships and communicating better with suppliers and outside organisations in order to make the business run smoothly and more cost effectively.
What source documents is the purchases returns day book written up?
The purchases returns day book is written up using source documents such as supplier credit notes, purchase return slips, or any documentation provided by the supplier when returning purchased goods. These documents serve as evidence of the return of goods and help in recording the transactions accurately.
