Topic 2.3 – Relationships with suppliers



Topic 2.3 – Relationships with suppliersWB 19/10/2020Task: Using the link below, read the information carefully and fill in the missing words. businesses don’t produce a _______________ completely. Instead, they have suppliers that supply some of their raw _______________ or?components. Finding suppliers that can meet all of a business’ needs is essential for a business to remain competitive and successful.There are five key _______________ a business needs to consider when trying to build a _______________ with a supplier:_______________?is a vital consideration. If a business can get supplies _______________, this keeps its?variable costs?low, allowing it to maintain higher?profit margins. Often, the more products businesses buy from suppliers, the more power they have to _______________ discounts._______________?is essential, even when a product is marketed as a ‘budget’ or a low-cost option. For example, whether a business is making a?gourmet?or supermarket?own-brand?bar of chocolate, the quality of the raw products must be considered. Businesses need to make good-quality products that customers want to buy, but at different _______________ points._______________?is also important, as the products that are ordered have to arrive on time. For manufacturers, late deliveries interrupt the _______________ process, and for shops a late delivery could cause them to run out of stock. To avoid this, some businesses fine suppliers a small percentage of the value of any late deliveries. Businesses want _______________ delivery with minimal?lead time?so suppliers often set up their businesses near their customers. For example, Silicon Valley is made up of technology companies such as Apple and Facebook and their _______________._______________ and capacity?of suppliers to meet an unexpected increase in orders is very important. For example, during a heat wave, a local corner shop might increase the _______________ of ice creams and ice lollies it orders, and it would need its suppliers to meet the _______________._______________?between the business and the supplier is needed, as many businesses buy using?trade credit?to allow time to sell products to customers before _______________ their suppliers. Businesses also need to trust their suppliers to keep designs and other _______________ confidential. ................
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