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Lily is working on a revision of an existing product and realizes her company is working with 20 suppliers providing the same component. She

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Lily is working on a revision of an existing product and realizes her company is working with 20 suppliers providing the same component. She knows that reducing suppliers to a few would increase economies of scale and lower component pricing. Lily recommends lowering the number of suppliers her company works with for this part. Lowering the number of suppliers to receive these benefits is also known as what? Purchasing consortium Supplier council Supply-base rationalization Warehousing group

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