BUS 644 Week 3 DQ 1 Suppliers - Suppliers Should a firm...

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Suppliers Should a firm attempt to have fewer or more suppliers? What are the advantages and disadvantages of each approach? Your initial post should be 200-250 words. “The term supply chain is commonly used to refer to the network of organizations that participate in producing goods or providing services. A supply chain encompasses all activities associated with the flow and transfer of goods and services, from raw material extraction through use by the final consumer” (Vonderembse, 2013, p. 116). The organization must effectively manage their supply chain. The more suppliers they have the more moving parts that are necessary to manage. Each organization should make a decision regarding the number of suppliers according to their business need. There are several factors to consider when making this decision. “Using many suppliers often allows a company to take advantage of competition among those suppliers to meet the company’s demands for cost, quality, and delivery” (Vonderembse, 2013, p.

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