ABSTRACT
The entry describes the importance of establishing relationships with suppliers. These relationships depend on the supplier's dependence on one's own company for its business. The importance of supplier relationships has emerged as a key issue since one's own operation can be disrupted by poorly performing suppliers. The authors describe four aspects of a supplier relationship:Building relationships that lead to an understanding of the supplier's processes.Personal visits to suppliers.Building trust that the buying company is acting on behalf of its customers.Joint goal setting for improvement.
