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Q 1/40
Score 0
What is a key benefit of building strong relationships with suppliers in business studies?
30
Increased marketing costs
Improved quality of products
Higher employee turnover
Decreased profits
Q 2/40
Score 0
What is the term used to describe the process of selecting, evaluating, and managing suppliers in business studies?
30
Market research
Supplier management
Product development
Customer service
40 questions
Q.
What is a key benefit of building strong relationships with suppliers in business studies?
1
30 sec
Q.
What is the term used to describe the process of selecting, evaluating, and managing suppliers in business studies?
2
30 sec
Q.
What is a potential risk of not diversifying suppliers in business studies?
3
30 sec
Q.
What is meant by the term 'supply chain' in the context of business studies?
4
30 sec
Q.
What is the term used to describe the practice of continuously monitoring and managing supplier performance in business studies?
5
30 sec
Q.
What is a common benefit of establishing long-term relationships with suppliers in business studies?
6
30 sec
Q.
Why is it important for businesses to communicate effectively with suppliers?
7
30 sec
Q.
What is a potential consequence of poor supplier relationships in business studies?
8
30 sec
Q.
What is a common method for businesses to assess the financial stability of potential suppliers?
9
30 sec
Q.
What is the term used to describe the process of negotiating prices and terms with suppliers in business studies?
10
30 sec
Q.
What is the process called when a business reviews its suppliers to ensure they are providing quality goods and services at competitive prices?
11
30 sec
Q.
What is the term used to describe a business practice where a company buys goods or services from an external supplier rather than producing them in-house?
12
30 sec
Q.
What is the term used to describe a situation where a business sets up a long-term relationship with a company that supplies its raw materials or components?
13
30 sec
Q.
What is the term used to describe the process of negotiating with suppliers to obtain the best possible price, quality, and delivery terms?
14
30 sec
Q.
What is the term used to describe the practice of managing relationships with suppliers to ensure the timely delivery of goods and services?
15
30 sec
Q.
What is the term used to describe the strategic approach of working closely with suppliers to jointly develop new products or services?
16
30 sec
Q.
What is the term used to describe the practice of diversifying a business's supplier base to reduce risk and improve resilience?
17
30 sec
Q.
What is the term used to describe a document that outlines the specific requirements, terms, and conditions for a business transaction between a buyer and a supplier?
18
30 sec
Q.
What is the term used to describe the process of evaluating and selecting suppliers based on criteria such as quality, cost, and reliability?
19
30 sec
Q.
What is the term used to describe the practice of collaborating with suppliers to reduce waste, improve efficiency, and enhance sustainability in the supply chain?
20
30 sec
Q.
In Business Studies, what is the term used to describe the process of evaluating and choosing suppliers to work with?
21
30 sec
Q.
What term is used in Business Studies to describe the practice of working closely with suppliers to improve performance and efficiency?
22
30 sec
Q.
What is a common benefit for businesses when working closely with suppliers?
23
30 sec
Q.
What is an important factor for businesses to consider when selecting suppliers to work with?
24
30 sec
Q.
What term is used in Business Studies to describe the practice of sharing information and resources with suppliers to achieve mutual benefits?
25
30 sec
Q.
When businesses work closely with suppliers, what can be enhanced as a result of improved collaboration?
26
30 sec
Q.
What is an important aspect for businesses to consider when negotiating contracts with suppliers?
27
30 sec
Q.
What is the term used in Business Studies to describe the process of evaluating and comparing suppliers based on various criteria?
28
30 sec
Q.
What is an advantage of forming long-term relationships with suppliers in Business Studies?
29
30 sec
Q.
What does the term 'supply chain' refer to in Business Studies?
30
30 sec
Q.
In business studies, which of the following is NOT a benefit of working closely with suppliers?
31
30 sec
Q.
What is a key step in managing relationships with suppliers in business studies?
32
30 sec
Q.
Why is it important for businesses to diversify their supplier base?
33
30 sec
Q.
What is a common strategy used by businesses to ensure ethical practices are upheld by their suppliers?
34
30 sec
Q.
When working with suppliers, what does the term 'lead time' refer to?
35
30 sec
Q.
What is the term used to describe when a business works closely with its suppliers to jointly develop new products or processes?
36
30 sec
Q.
What is the benefit of having a just-in-time (JIT) inventory system when working with suppliers?
37
30 sec
Q.
How can businesses benefit from establishing strong relationships with their suppliers?
38
30 sec
Q.
What is the term used to describe when a business decides to source goods or services from a single supplier?
39
30 sec
Q.
What is a potential risk of over-reliance on a single supplier for a business?
