Answer:
both hard and soft factors with an eye toward long-term outcomes.
Explanation:
Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.
The fundamental principle of supply chain management is the complete collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing producer), a wholesaler, and a retailer who typically sells the products to the customers or consumers.
Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.
Hence, to select a potential supplier-partner, the buyer should consider both hard and soft factors with an eye toward long-term outcomes. The hard factors comprises of equipment, product, technology, and raw materials used in the manufacturing process while the soft factors are work methods, organizational style and structure, labor or workforce, organizational procedures and policies.
