Supplier Relationships Definition
A supplier relationship is the interactions between a company and its suppliers. The goal of these relationships is to create value for both parties by ensuring that the supplies needed by the company are delivered on time and at a good price, while also providing quality products or services.
In order to build strong supplier relationships, companies need to clearly define their expectations and communicate them to their suppliers. They should also work to develop a mutually beneficial relationship where both parties feel like they are getting what they need out of the deal. Finally, companies should strive to be fair and consistent in their dealings with suppliers, as this will help to build trust and respect.
