Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a . Criteria for Selecting Suppliers: Negotiation Leverage: Using China's competitive manufacturing market to negotiate favorable terms without sacrificing material quality or environmental standards. Reliability

a. Criteria for Selecting Suppliers:
Negotiation Leverage: Using China's competitive manufacturing market to negotiate favorable terms without sacrificing material quality or environmental standards.
Reliability and Track Record: Evaluate potential suppliers based on them history of reliability, delivery times, and ability to handle complex orders.
Sustainability and Ethics: If sustainable practices and ethical standards align with our brand values, prioritize suppliers who adhere to them. Sustainable materials is one of the major aspect of this business.
b. Price decisions/purchasing:
Negotiate with Suppliers: Secure discounts for bulk purchases to lower per-item costs and maintain flexible agreements to adjust order quantities and delivery as needed.
Competitive Supplier Market: The high density of manufacturers in China creates a competitive environment, often leading to more favorable pricing for buyers.
Consider Total Cost of Ownership (TCO): Account for all costs, including initial purchase, transportation, storage, and potential waste, for smarter financial decisions.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these General Management questions