Is it correct to suggest that the sole objective of partnership sourcing is to achieve...

Comprehensive and Detailed Explanation:

Partnership sourcing is a strategic approach that emphasizes long-term collaboration between buyers and suppliers to achieve mutual benefits. While achieving a competitive acquisition cost is a component, it is not the sole objective. Partnership sourcing also focuses on:

Quality Improvement:Ensuring that products or services meet or exceed quality standards.

Innovation:Collaborating on new product development and process improvements.

Risk Management:Sharing information to anticipate and mitigate risks.

Supply Chain Efficiency:Streamlining processes to reduce lead times and inventory levels.

Therefore, while cost is important, partnership sourcing encompasses a broader range of objectives aimed at creating value for both parties.