Five Essential Design Principles for Building Strategic Supplier Relationships

The business battles of this century will be won by harnessing the power of suppliers. Leading organizations recognize that the playing field of procurement is no longer one of lowest cost or best value but one of highly collaborative relationships with suppliers that can help drive transformation and innovation. 

Next-generation supplier relationship management accounts for the entire spectrum of possible buyer-supplier relationships and follows the five essential design principles outlined in this article to ensure that an organization gets the most value from its supplier relationships.