Topic: Supply chain management & contractual flexibility
Please provide DETAILED explanation of the following:
Question 1: What is the value of contractual flexibility in managing outsourced supply chains?
Question 2: How does contractual flexibility factor in when a company changes an order in response to new demand information for the company's product?
Question 3: Are there any simple approaches to attempt to evaluate this contractual flexibility?
Question 4: How much more might a company be willing to pay for a supplier that will offer contractual flexibility?