Discuss and address why it is favorable to treat suppliers as partners for a mutually beneficial long-term relationship versus treating suppliers more on a transactional basis as adversaries
In choosing suppliers (also called vendors), the buying organization must consider the suppliers’ abilities to meet price points, the quality requirements, the suppliers’ reputations, and any past experience with those suppliers. Effective supplier relationship management is important to guarantee positive working relationships. In some cases, organizations enter into supplier partnerships, meaning long-term relationships with certain suppliers. Still, some organizations find it important to treat suppliers as adversaries.
Discuss and address why it is favorable to treat suppliers as partners for a mutually beneficial long-term relationship versus treating suppliers more on a transactional basis as adversaries. Ensure that you provide examples for both scenarios.
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