Which of the following are objectives of Supplier Management? 1. Negotiating and agreeing Contracts 2. Updating the Supplier and Contract database 3. Planning for possible closure, renewal or extensio

Supplier Management objectives include negotiating and agreeing contracts with external suppliers (1), maintaining the Supplier and Contract Database with up-to-date records (2), and planning for contract lifecycle events such as closure, renewal, or extension (3). Statement 4 is excluded because Supplier Management specifically governs external third-party suppliers, not internal teams or departments, which are handled through other processes.

Excludes statement 2 (updating the Supplier and Contract Database), which is a core Supplier Management activity for tracking supplier performance and contract details.

Excludes statement 1 (negotiating and agreeing contracts), which is a fundamental objective of Supplier Management since contracts define the obligations of external suppliers.

Incorrect because statements 1, 2, and 3 are all valid Supplier Management objectives as defined in the ITIL framework.