Questions: Question 3 (3 points) One of the emerging mandatory requirements of supplier partnerships is the elimination of what traditional business factor? 1) fee or fine risk calculations 2) return on investment maximization 3) price-only approach to negotiations 4) tax-free zones to promote growth

Question 3 (3 points) One of the emerging mandatory requirements of supplier partnerships is the elimination of what traditional business factor? 1) fee or fine risk calculations 2) return on investment maximization 3) price-only approach to negotiations 4) tax-free zones to promote growth
Transcript text: Question 3 (3 points) One of the emerging mandatory requirements of supplier partnerships is the elimination of what traditional business factor? 1) fee or fine risk calculations 2) return on investment maximization 3) price-only approach to negotiations 4) tax-free zones to promote growth
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Solution

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Answer

The answer is 3) price-only approach to negotiations

Explanation
Option 1: Fee or fine risk calculations

Fee or fine risk calculations are still relevant in supplier partnerships as they help in assessing potential risks and ensuring compliance with contractual obligations. Eliminating this factor could lead to unforeseen financial liabilities.

Option 2: Return on investment maximization

Maximizing return on investment (ROI) remains a critical objective for businesses. It ensures that the resources invested in supplier partnerships yield the highest possible returns, which is essential for the financial health of the company.

Option 3: Price-only approach to negotiations

The price-only approach to negotiations is increasingly being eliminated in favor of more comprehensive evaluation criteria. Modern supplier partnerships focus on factors such as quality, reliability, innovation, and long-term value rather than just the lowest price. This shift helps in building more sustainable and mutually beneficial relationships.

Option 4: Tax-free zones to promote growth

Tax-free zones are specific areas where businesses can operate with tax incentives to promote economic growth. This concept is still in use and is not typically a factor that is eliminated in supplier partnerships.

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