ASSIGNMENT HELP | Identify the goal and requirements of a supplier partnership.

Identify the goal and requirements of a supplier partnership. Develop/discuss the stages of a supplier partnership. Refer to this week’s lecture before crafting your post.

MODEL ANSWER

Goals and Requirements of Supplier Partnership

The supply chain entails multiple challenges, primarily with respect to creating trust and collaboration with other parties. A supplier partnership is a cooperative relationship between a supplier and a customer to strengthen individual ties and resource links for mutual | PLACE YOUR ORDER NOW AT writtask.com | parties involved must have the coordination that | PLACE YOUR ORDER NOW AT writtask.com | a good measure of | PLACE YOUR ORDER NOW AT writtask.com | a good relationship is established, the parties enjoy a wide range of benefits like reduced capital and transaction | PLACE YOUR ORDER NOW AT writtask.com | of relationship established is the basis of determining the creation of a trust to conduct a successful business.

The primary objective of the supplier partnership is to improve performance, and as a result, there must be specific requirements to | PLACE YOUR ORDER NOW AT writtask.com | must be integrated by pooling | PLACE YOUR ORDER NOW AT writtask.com | together using transparent | PLACE YOUR ORDER NOW AT writtask.com | party has more knowledge than the other does, the collaboration would be built on information asymmetry, which is detrimental to the achievement of optimal | PLACE YOUR ORDER NOW AT writtask.com | be joint planning, forecasting, and | PLACE YOUR ORDER NOW AT writtask.com | of information to create an integrated | PLACE YOUR ORDER NOW AT writtask.com | supplier and customer would benefit from a reduced cost of operation.

Stages of Supplier Partnership

Supplier partnerships should be procedural to ensure both the supplier and the customer are | PLACE YOUR ORDER NOW AT writtask.com | the need for collaboration in the organization and then develop a shared vision with measurable benefits for both | PLACE YOUR ORDER NOW AT writtask.com | should then develop a governance structure to coordinate and manage the responsible team like the procurement | PLACE YOUR ORDER NOW AT writtask.com | should be aligned with the business | PLACE YOUR ORDER NOW AT writtask.com | to satisfy the mission of the | PLACE YOUR ORDER NOW AT writtask.com | organization should gather the necessary human and financial resources to integrate the changes in | PLACE YOUR ORDER NOW AT writtask.com | should then be implemented, and if successful, a team of competent stakeholders should be trained to complete the project.

References

Gadde, L. E., & Snehota, I. (2015). Supplier Partnerships–what does it mean?. In Global Perspectives in Marketing for the 21st Century (pp. 380-383). Springer, Cham.

Mofokeng, T. M., & Chinomona, R. (2019). Supply chain partnership, supply chain collaboration and supply chain integration as the antecedents of supply chain performance. South African Journal of Business Management, 50(1), 1-10.

Papulova, Z. (2014). The significance of vision and mission development for enterprises in Slovak Republic. Journal of Economics, Business and management, 2(1), 12-16.