Choosing Suppliers (AQA A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
Dependability (supplier context)
Dependability (supplier context)
Reliability & ability to meet delivery deadlines consistently
Flexibility (supplier context)
Flexibility (supplier context)
Ability to respond efficiently to changes in demand
Quality (supplier context)
Quality (supplier context)
Ability to produce goods at consistent & reliable standard
Price and payment terms
Price and payment terms
Cost charged for goods & conditions of payment
Ethics (supplier context)
Ethics (supplier context)
Whether supplier operates in socially responsible manner
Five key factors influencing supplier choice
Five key factors influencing supplier choice
Dependability, Flexibility, Quality, Price/payment, Ethics
Goal of effective supply chain management
Goal of effective supply chain management
Right product in right place at right time
Why flexibility matters in suppliers
Why flexibility matters in suppliers
Helps manage inventory costs as demand fluctuates
How favourable payment terms help businesses
How favourable payment terms help businesses
Improves cash flow by allowing sale before payment
Why cheapest supplier isn't always best
Why cheapest supplier isn't always best
May be unreliable or produce poor-quality goods