Supplier partnerships are much more than just working closely with suppliers. They’re built on a foundation of trust and communication that enables both parties to get better results than they would have in a typical supplier relationship.
True partnerships offer several advantages, all at the same time:
- World class pricing and competitiveness
- Greater profitability for both parties
- Shorter lead times with more flexibility and agility
- Enhanced quality
- Increased inventory turns
If you want to reach a world-class level of performance, examine your relationships with your key suppliers to make sure they are partnerships that yield win/win results.
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