2.3.2 Working with suppliers - Word Drop

The bar gate stock graph helps a business manage its stock. It shows the ______ stock the business wants to hold and the minimum level it wants to keep. The ______ level is the point at which new stock is ordered. The ______ is the time between placing an order and receiving delivery. ______ stock is extra held for emergencies. Just-in-time (JIT) stock control means holding very ______ stock and having supplies delivered just as they are needed.

Procurement is the process of finding suppliers and agreeing terms. A business must check the ______ of supplies to ensure they meet its needs. The ______ cost is the price charged for transporting supplies. The speed and reliability of delivery are also important. Supplies must be ______ when the business needs them. The ______ a business pays for supplies affects the prices it charges customers. A good relationship with a supplier is built on ______, as the business must believe the supplier will keep its promises.

Poor decisions about logistics and supply can increase the ______ of running the business, damage the business's ______ with customers and reduce customer ______, making customers less happy.