Answer:
The Supplier Evaluation process
Explanation:
The supplier evaluation process are usually done for companies through certain quantitative and qualitative evaluation measures. It is simply aimed at assessing and approving a pool of potential suppliers the companies can be using from time to time.
The performances of these suppliers are measured and monitored for the purpose of reducing the costs of goods that are needed on a constant basis.
Question:
________ determines the criteria for supplier selection and adds and removes suppliers from the list of approved suppliers.
A) The Procurement Process
B) The Supplier Evaluation Process
C) Supply Chain Management (SCM)
D Data Sharing
Answer:
The correct answer is Supplier Evaluation process
Explanation:
Supplier evaluation refers to the process of assessing and approving potential suppliers by quantitative and qualitative tests. The purpose is to ensure a portfolio of best-in-class suppliers is available for use.
Companies that regularly evaluate the performance of their suppliers find that they have better visibility into supplier performance, remove hidden charges, reduce risk, get a competitive advantage by reducing order cycle times and inventory, gain insight on how to elevate on their supply base, and align practices between the company management and the suppliers.
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