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1. Do you think that formal contracts are used in SCM? If so, extensively/rarely? More or less dependent on branch? Yes, formal contracts are used. Extensively between partners who do not know each other (well); for deals with strategic products and utmost bottleneck products as there is high criticality/risk of supply; high value products and/or speciality products, long lead/delivery time products Not that extensively but as well for strategic standard products with high value Rarely in long ago established, well working co-operations, easily substitutable products with short lead time Concerning industries there are no specific areas where contracts are generally more often used than in others except for the shipment business where contracts are historically anchored and the oil industry. Usually the decision whether to use of formal contracts or not depends on the personal relationship of the two parties involved.
Approximate Word count = 548
Approximate Pages = 2.2
(250 words per page double spaced)
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