An arrangement between two companies or organization to help each other or work together, to make it easier for each of them to achieve things they want to achieve
Example of supplier relationships
Distributors
Retailers
Manufacturers
Suppliers
3 Key Factors in supplier partnerships
Regular communication
Performance monitoring
Commitment to shared goals
How would you benefit from supplier partnership?
By establishing a mutually valuable relationship with key suppliers, an organization can achieve long term cost savings, in the form of reduced issues with availability, quality and delays in supply
Key Benefits of Supplier partnership
Reduced costs
Cost savings
Reduction in delays, quality issues, availability challenges
