In order to increase competency and add new competitive advantages, organizations today are relying on collaborative relationships. When implementing supplier partnerships, firms commonly take either a strategic or reactive approach. In the current business environment, firms are trying to migrate from a reactive approach to more of a strategic approach to establishing supplier partnerships. The latter looks at the entire supply base with a focus on improving specific supplier activities. Reactive on the other hand, is often the result of dedicating resources to repairing problems after they occur. The strategic based process is market driven and focused on improving the overall performance of the supply base.
Healthy supplier relationship helps organizations to receive better services, procure efficiently and maintain a sustainable relationship. Executing supplier relationship requires organizations to gather information on the suppliers, monitor performance of suppliers and reward suppliers meeting the goals.
Scope of Discussion:
- Importance of real time market intelligence in supplier management
- Relationship between strategic procurement & supplier risk management
- Role of procurement technology in mitigating supply chain risk & improving supplier relationship
Click here to register & send in your questions to our expert Dr. Robert Handfield, (Bank of America University Distinguished Professor, North Carolina State University Director, Supply Chain Resource Consortium, NC State) at the second event in our online ‘Expert Access’ series on December 7 at 1 pm ET.
