determines the criteria for supplier selection and adds and removes suppliers from the list of approved suppliers. The Procurement Process The Supplier Evaluation Process Supply Chain Management (SCM) Data Sharing

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

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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