This is related Sourcing and Supplier Relationships in Supply chain
(1) Using suitable examples, distinguish between “Strategic Items” and “Core Standard Items”.
(2) Should a company develop partnership relationship with all its suppliers? Why or why not?
(3) Is the “Diamond model” for supplier relationship superior to the “Bow-tie” model? Explain.
(4) What do you understand by “Supplier development” and why is it important?
(5) Clearly describe the benefits of centralizing procurement instead of decentralizing it.