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15 January, 16:54

Discuss the optimal method for procuring inputs that have well-defined and measurable quality specifications and require highly specialized investments.

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  1. 15 January, 17:17
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    By formation of legally binding contract.

    Explanation:

    Contacts are a good way for procuring inputs that have well-defined and measurable quality specifications and require highly specialized investments. Because of the high quality expected in the goods procured, having a legally enforceable contact will make the vendor provide high quality products that meets required specifications.

    However when contracts dictate a particular price, so if the market price of input were to go down we will still be obligated to buy at the higher price from the vendor.
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