Importance Of Supplier Rationalization Essay

PAGES
2
WORDS
873
Cite

¶ … Added Value From Supply Partnership In the contemporary supply chain, organizations prefer getting into partnerships with the players involved in the supply chain and implementing a sound supply relationship management to ensure they derive the maximum advantages. Some of the added values to the organizations that come with the partnerships are;

There will be increased performance since from the formed strategic partnerships there will be a better understanding of the areas where there is room for improvement of output. There will be frequent analysis of the partnership and the complementary services that the firm receives and in this manner, there will be organization and supplier trust created which will in turn result in improved performance.

Secondly there will be reduced turnover and minimized risk with the organization. Having irregular suppliers often results in friction between the organization and the suppliers hence high risks of not getting the goods as when needed and also the higher chances of changing the suppliers frequently. With a strategic partnership and a good supplier relationship management, there will be a quick detection of possible problem areas hence making prompt changes and curb on the supplier turn over and also uphold good working relationship with the suppliers.

...

From the supplier relationship, the business will form bridges that will allow them to maximize operational efficiencies. The client and suppliers will participate in giving feedback, rankings and even suggestions and in effect, the business will redirect their resources towards areas that enhance higher cost effectiveness.
The business will also have access to exceptional suppliers with the forging of partnerships with the suppliers. In the process of forming the partnerships, there will be in-depth evaluations of the suppliers and in the process the organization can categorize suppliers, find new suppliers, improve on the suppliers and even eliminate of there is need for such a step. This will hence ensure that only the most suitable suppliers are retained in the list of partnerships hence supply the quality service in the present and even far future (Decideware, 2008).

The partnerships are also known to enhance flexibility and speed due to the joint response between the organization and supplier towards the contemporary changing markets and customer expectations and needs. The two parties involved in the supply partnership will combine their efforts to be able to understand the changing trends and help…

Sources Used in Documents:

References

Decideware, (2008). The Benefits of an Optimized Strategic Supplier Relationship. Retrieved April 12, 2015 from http://www.*****/pdfs/Decideware2.pdf

Martin Adrian, (2006). Why Rationalize your Supplier Base. Retrieved April 12, 2015 from http://ezinearticles.com/?Why-Rationalize-Your-Supplier-Base&id=332671

Martin McKay, (2015). Supply Chain Partnership. Retrieved April 12, 2015 from http://www.google.co.ke/url?sa=t&rct=j&q=&esrc=s&source=web&cd=10&cad=rja&uact=8&ved=0CF8QFjAJ&url=http%3A%2F%2Fwww.thecqi.org%2FDocuments%2Fcommunity%2FWQD%2FPresentations%2FMartin%2520McKay%2520-%2520NDA.pps&ei=zR4sVYy7KaSv7Aba44GwDQ&usg=AFQjCNHBmBvJHtsAwXzSIzOL0A_uNpnjww&sig2=j0-Bjca27_VC-UFHPmKxhw&bvm=bv.90491159,d.ZGU


Cite this Document:

"Importance Of Supplier Rationalization" (2015, April 13) Retrieved April 26, 2024, from
https://www.paperdue.com/essay/importance-of-supplier-rationalization-2150524

"Importance Of Supplier Rationalization" 13 April 2015. Web.26 April. 2024. <
https://www.paperdue.com/essay/importance-of-supplier-rationalization-2150524>

"Importance Of Supplier Rationalization", 13 April 2015, Accessed.26 April. 2024,
https://www.paperdue.com/essay/importance-of-supplier-rationalization-2150524

Related Documents
Challenger Launch Decision
PAGES 10 WORDS 2891

Challenger Launch Decision JOE KILMINSTER'S ACCOUNTABILITY IN THE CHALLENGER DISASTER On January 28, 1986, the Challenger, one of the reusable space shuttle by the National Aeronautics and Space Administration or NASA, was launched off at the John F. Kennedy Space Center in Cape Canaveral, Florida but exploded 72 seconds after liftoff. The launch was approved and ordered by the management of the Morton Thiokol, Inc., an aerospace company, that manufactures solid propellant

Learning and Development
PAGES 10 WORDS 3387

Business Leadership Learning & Development The reorganization of a business can take many forms. One of the most crucial areas for reorganization when expanding a business, buying a new business, or even restructuring because of bankruptcy, is to focus the new management team and to incorporate viable solutions for leadership learning & development protection. This report aims to draw up a management development program, devise a program that ensures that the learning

The generation of new products in it which can support product delivery at a faster rate. For example the it Organization that creates software, provides technical support and training, processes payments as and finally enters into an agreement that is nonexclusive in nature with the manufacturers who then authorize the organization in marketing of those products provides the suppliers/manufactures with a great deal of power in terms of the

Merger Activity Due in Large
PAGES 27 WORDS 7696

Finance-dominated proponents also maintain that boom economic periods generate a more varied divergence of valuations that fuel merger activity (Medlen 2007). In this regard, Medlen concludes that, "Taken collectively, these understandings may explain some of the merger activity in booms, but they involve certain asymmetries that undercut their explanatory power. High stock valuations allow stock to be utilized as currency and collateral for takeovers; yet stock booms also make

Cuba After Castro Cuba Is
PAGES 80 WORDS 20759

Those officials who did look at the question of Japanese intentions decided that Japan would never attack, because to do so would be irrational. Yet what might seem irrational to one country may seem perfectly logical to another country that has different goals, values, and traditions. (Kessler 98) The failures apparent in the onset of World War II and during the course of the war led indirectly to the creation

Improvement of Supply Chain Management Tools and Processes for Ultimate Strategic Achievement of Success in Military and Civil Business Today, both public and private sector organisations of all sizes and types are faced with the same need to optimize their supply chain management processes to the maximum extent possible in order to achieve and sustain high levels of performance and productivity. Because supply chain management systems are frequently highly complex,