Supplier Relations Definition
A supplier is a company that provides materials or services to another company. The relationship between a buyer and supplier is called a supply chain. The goal of supplier relations is to create and maintain a positive relationship between the buyer and supplier in order to create value for both parties.
Supplier relations can be defined as the process of managing all interactions with suppliers in order to create value for the organization. This includes activities such as sourcing, contracting, performance management, and dispute resolution. Supplier relations also involve developing and maintaining relationships with key suppliers in order to improve communication, collaboration, and overall satisfaction.
The role of supplier relations is to ensure that the organization is getting the best possible value from its suppliers. This includes getting goods and services at the right price, ensuring quality standards are met, and working with suppliers to improve their performance. Supplier relations managers work closely with procurement departments to select new suppliers and negotiate contracts. They also work with other departments within the organization to resolve any issues that may arise.
