Focus on Collaborative Supplier Relationships

Global disruptions have led to changes in procurement in recent years. These changes have necessitated improvements in procurement organizations such as implementing stronger processes, increased technology investments, and greater flexibility. However, procurement still has opportunities to strengthen relationships with suppliers collaboratively to drive added value for their supply chains and overall enterprises.
From APQC’s Sourcing and Procurement: 2024 Blueprint for Success, this article details the importance of focusing on collaborative supplier relationships. These findings are supported by data from APQC’s Open Standards Benchmarking research in procurement and examples from successful organizations.