From the course: Supply Chain Foundations
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Managing suppliers
From the course: Supply Chain Foundations
Managing suppliers
- Some companies buy materials. Some companies sell materials. Together, these buyer and suppliers develop a relationship. When we consider the relationships in our lives, bad relationships bring to mind words like anxiety and tension. Good relationships bring to mind words like love, loyalty, comfort, and appreciation. The same holds for these buyer-supplier relationships. So how do we manage the relationship with our suppliers? First, we need to find good suppliers, suppliers that have common interests, suppliers willing to put in the effort before the relationship even begins. One way companies can manage a supplier before the relationship even begins, supplier certifications. Just like you need a license to drive a car, a company may require a prospective supplier to get a certification. Perhaps your company wants its suppliers to have an international quality certification. Perhaps you want them to have a…
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