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A buyer for DEF, Inc. has been exceeding spending authority on agreements with several new suppliers. Which of the following Is an accurate statement regarding DEF's liability in this situation?
A supply manager Is planning for negotiations with a sole-source supplier of an essential part. The buying firm is already one of the supplier's top customers, and will need even larger quantities of the part to expand its product line in the near future. The supply manager learns that the supplier may experience some financial risks over the coming year, and that the supplier is anxious to solidify its relationships with major customers to mitigate that risk. Which of the following Is the BEST way for the supply manager to gain a deeper understanding of the supplier's position?
A supply manager is preparing the department's budget for the next year. Which of the following is the FIRST step in this process?