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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Week 5 DQ 3

Week 5 DQ 3

Q In your discussion post, assess key supplier-management approaches. What are their strengths and weaknesses? What approach do you think the institution you selected uses? How does your selected institution benefit from the approach, and, if it does not benefit from their approach, why not. Apply at least two supplier-management approaches or models to your institution, and explain the benefits and drawbacks particular to your selected institution.

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There are various approaches that work towards strengthening supplier management practices. Some of the key ones are as follows: Understanding the cost structure of the supply chain, check the extent of accountability that could be handled, formulating effective strategies, incorporating the planned strategies, identifying the loopholes, passing down information on time, and looking for ways for maximizing customer satisfaction. These factors are majorly responsible for better supplier