Identify the goal and requirements of a supplier partnership. Develop/discuss the stages of a supplier partnership. Refer to this week’s lecture before crafting your post.
ANSWER
Supplier Partnership
Need Help Writing an Essay?
Tell us about your assignment and we will find the best writer for your paper.
Write My Essay For MeGoals and Requirements of Supplier Partnership
The supply chain entails multiple challenges, primarily with respect to creating trust and collaboration with other parties. A supplier partnership is a cooperative relationship between a supplier and a customer to strengthen individual ties and resource links for mutual benefit (Gadde & Snehota, 2015). Therefore, the parties involved must have the coordination that implies a good measure of involvement. When a good relationship is established, the parties enjoy a wide range of benefits like reduced capital and transaction costs. The kind of relationship established is the basis of determining the creation of a trust to conduct a successful business.
The primary objective of the supplier partnership is to improve performance, and as a result, there must be specific requirements to consider. The parties must be integrated by pooling resources together using transparent methods (Mofokeng & Chinomona, 2019). Indeed, if one party has more knowledge than the other does, the collaboration would be built on information asymmetry, which is detrimental to the achievement of optimal results. There should be joint planning, forecasting, and sharing of information to create an integrated environment (Mofokeng & Chinomona, 2019). In the end, the supplier and customer would benefit from a reduced cost of operation.
Stages of Supplier Partnership
Supplier partnerships should be procedural to ensure both the supplier and the customer are mutually benefiting. First, introduce the need for collaboration in the organization and then develop a shared vision with measurable benefits for both parties. The organization should then develop a governance structure to coordinate and manage the responsible team like the procurement department. These functions should be aligned with the business objectives to satisfy the mission of the company (Papulova, 2014). Additionally, the organization should gather the necessary human and financial resources to integrate the changes in operations. A pilot study should then be implemented, and if successful, a team of competent stakeholders should be trained to complete the …
Do you find yourself approaching a tight assignment deadline? We have a simple solution for you! Just complete our order form, providing your specific instructions. Rest assured that our team consists of professional writers who excel in their respective fields of study. They utilize extensive databases, top-notch online libraries, and up-to-date periodicals and journals to ensure the delivery of papers of the utmost quality, tailored to your requirements. Trust us when we say that thorough research is conducted for every essay, and our expertise in various topics is unparalleled. Furthermore, we have a diverse team of writers to cover a wide range of disciplines. Be assured that all our papers are created from scratch, guaranteeing originality and uniqueness.
Write my essays. We write papers from scratch and within your selected deadline. Just give clear instructions and your work is done
