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Supplier Management Strategy

oboloo Glossary

Supplier Management Strategy

Supplier management strategy is the process of developing and implementing a cohesive plan to effectively identify, select, assess and manage supplier relationships. This strategy should provide an integrated approach to partnering with suppliers in order to leverage cost savings, optimize supply chain performance, enhance customer satisfaction and increase business agility. Supplier management strategies should encompass all areas of vendor relationship management from procurement to supplier development to payment and more.

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