Maintaining a long-term collaborative relationship with a trading partner requires:

Maintaining a long-term collaborative relationship with a trading partner requires:

A. formal and informal communication.

B. interconnected information systems.

C. one partner regularly exercising power.

D. standardized terms of agreement.

View Answer

Answer: A

Explanation:

Context: Long-term collaborative relationships in business require various forms of communication and mutual understanding.

Options Breakdown:

A. Formal and informal communication: Essential for building trust, addressing issues promptly, and fostering collaboration.

B. Interconnected information systems: Important for operational efficiency but not sufficient alone for maintaining relationships.

C. One partner regularly exercising power: This could harm collaboration and trust.

D. Standardized terms of agreement: Important for clarity but insufficient alone to maintain long-term relationships.

Correct Answer Justification: Effective long-term relationships depend on both formal (contracts, meetings) and informal (regular check-ins, casual interactions) communication, ensuring transparency, trust, and responsiveness.

Reference: Supply chain relationship management literature

Case studies on successful long-term business partnerships