Final answer:
In the context of industrial purchasing and supply chain management, 'responsiveness' refers to the speed of delivery and the supplier's ability to rapidly fulfill orders to meet customer demand.
Step-by-step explanation:
In business, particularly in the context of industrial purchasing and supply chain management, the term responsiveness is often used to refer to delivery speed. This refers to how quickly a supplier can fulfill an order and get the product or materials to the buyer. The concept touches on the supplier's ability to adjust rapidly to changes in customer demand and carry out prompt delivery of goods. An example of responsiveness in a supply chain context would be a supplier immediately dispatching an urgent order to a manufacturing company to prevent production line shutdowns, thereby exhibiting agility in meeting customer needs.
While terms like agility, promptness, and swiftness are related to speed and may also be used within the context of supply chain operations, responsiveness is the term that encompasses not just speed, but also the ability to react effectively to meet customers' requirements. It involves a holistic approach to customer service that includes timely delivery, quick reaction to changing demands, and overall flexibility in operations.