You work for a company that manufactures a specialty line of commercial shelving suitable for retail displays . Manufacturing costs have been rising steadily, and you have been negotiating with a new supplier for a key component of the shelving units . The supplier's latest offer is to supply the component for a reasonable, fixed price if your company commits to a minimum monthly purchase for a period of 12 months .

a. What can your company do to ensure that the offer remains open while you consider whether to accept it?

b. What are the other risks associated with taking time to consider the offer before accepting it?

c. If the supplier specifies a deadline for acceptance, can it cancel the offer ahead of the deadline?

d. If the supplier specifies a deadline for acceptance, can you accept the offer after the deadline expires?

e. What happens if your company responds by agreeing to a six-month commitment?

f. If the supplier has made the same offer to both your company and one of your competitors at the same time, what risks does it run?