Use the types of buyer-supplier relationship below to answer the question:

1. Transactional relationships. A transactional relationship can be defined as a straightforward relationship between buyer and seller wherein the two parties do not get closely involved with each other, but simply exchange goods or services for payment.
2. Collaborative relationships, Buyers and sellers recognise a need for cooperation in order to achieve cost effectiveness, quality and on-time delivery. Therefore, buyers aim to build collaborative relationships with suppliers. define a collaborative relationship as "the process by which two or more parties adopt a high level of cooperation to maintain a trading relationship over time".

3. Alliance relationships. The main distinction between collaborative and alliance relationships is the existence of institutional trust - prudent trust, which is carefully de-signed, planned and mutually agreed upon.

.2 There are three types of buyer-supplier relationships that an organisation can engage in. Q.3.2.1 Explain the three types of buyer-supplier relationships using original practical examples for each. Note: - You are to explain the factor in your own words. - More marks will be awarded for providing an original example not found in your prescribed textbook or Learn