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Home Food for Thought Economics Supplier Relations

Supplier Relations

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You may bear in mind that all the that is going to be said is the way large corporations think and do, but if you are beginnig from the start you have to focus on the simple way and treat the other side as a human being with normal emotions.

Always bear in mind, the supplier  is human with its emotions, and having empathy, you should be in his shoes and feel how he will react.   That is the secret of good relationship.  When he feels that you have feelings for him,  he will go out of his way to help you, and that has been my personal experience.

Theory

Supplier relationship management (SRM) is the discipline of strategically planning for, and managing, all interactions with third party organizations that supply goods and/or services to an organization in order to maximize the value of those interactions. In practice, SRM entails creating closer, more collaborative relationships with key suppliers in order to uncover and realize new value and reduce risk of failure.

In many fundamental ways, SRM is analogous to customer relationship management. Just as companies have multiple interactions over time with their customers, so too do they interact with suppliers – negotiating contracts, purchasing, managing logistics and delivery, collaborating on product design, etc. The starting point for defining SRM is a recognition that these various interactions with suppliers are not discrete and independent – instead they are accurately and usefully thought of as comprising a relationship, one which can and should be managed in a coordinated fashion across functional and business unit touch-points, and throughout the relationship lifecycle.


 

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