ABSTRACT

Value improvement opportunities should be identified and the selected suppliers committed to providing resources for implementation. Joint teams should be dispatched to review the opportunities in a formal manner. The list of opportunities shown in the entry should be pursued by teams. A review checklist provided in the entry enables progress tracking. The entry notes that building relationships lead to additional opportunities for improvement. A table show how buyers and suppliers could enjoy the rewards of improved performance. This occurs as a particular supplier moves from a basic to a value‐added and then to a preferred to a strategic position.