The best way to manage a business relationship is to measure performance to:
A.
cost of ownership metrics.
B.
quality targets.
C.
on-time delivery.
D.
agreed-upon metrics.
The Answer Is:
D
This question includes an explanation.
Explanation:
The best way to manage a business relationship is to measure performance based on agreed-upon metrics. These metrics are established mutually by both parties involved and reflect the key performance indicators (KPIs) that are most relevant to their specific relationship and objectives. This approach ensures transparency, accountability, and alignment of expectations, facilitating a collaborative and effective partnership. By focusing on these metrics, both parties can track progress, identify areas for improvement, and make data-driven decisions to enhance the relationship.
[References:, "Supplier Relationship Management: Unlocking the Hidden Value in Your Supply Base" by Jonathan O'Brien, "The Handbook of Supply Chain Management" by James B. Ayers, ]
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