Which of the following is the best reason for having multiple suppliers? Create competition among suppliers...
Which of the following is the best reason for having multiple suppliers?
| Create competition among suppliers to lower purchasing costs |
| Improve supply chain efficiency |
| Ensure high quality of supply |
| Increase market share |
Homework Answers
The best reason for having multiple suppliers is to “Create competition among suppliers to lower purchasing costs”.
Explanation: Multiple suppliers helps the firm most in times of emergency when one supplier fails to provide supplies. Moreover, when there are several suppliers, purchasing cost of acquiring the supplies reduces due to the competition among the several suppliers taking part in biding. Thus, among the given options, first option can be stated as the best reason form having multiple suppliers.
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