How many business transactions does your company engage in daily with your partners? Not just sales and purchase transactions, but all business transactions: negotiations, orders placed and received, contracts granted and executed, exchanges with trading partners and third-party providers, returns, rejects, and expedited orders.
Nearly every company is dependent on suppliers. It’s important to make them an extension of your organization, rather than set them apart from it. Supplier collaboration is key for an effective, accountable supply chain; not to mention, it can be a competitive advantage.
By collaborating with suppliers, you have the power to limit the number of financial, business, and reputational risks through solutions that improve partnership between you and your supplier. In today’s fast-moving, global marketplace, your supply chain depends on it. For a supply chain to efficiently run as it should, it needs to have a seamless flow of the goods and products. If not managed correctly, the effort and the risk can quickly eat up the gains.
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