Apple has received multiple awards for its supply chain strategyRecently, for example, Gartner, a US-based research and advisory company, awarded Apple its inaugural "Masters" award after previously ranking Apple No. on its Top 25 Supply Chainslist for the past 5 years One key aspect of Apple's supply chain is its use of multiple suppliers for the same component . Apple has a number of exclusive long -term agreements with its key suppliers and uses prepayments to negotiate favorable pricing terms , secure strategic raw materials and guarantee high volumes of production For your deep dive , discuss procurement at Apple Inc., its strategy , its function , and how it is managed . Provide analysis and insights based on your research , incorporating relevant data , statistics , and examples