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CIPS Supplier Relationships is a specialized area of procurement and supply chain management focused on building and maintaining strong, collaborative partnerships with suppliers. It involves understanding supplier dynamics, stakeholder management, partnering, performance management, and risk management.
Strong supplier relationships can lead to cost reduction, improved quality, increased innovation, enhanced supply chain resilience, and improved customer satisfaction.
Supplier relationships can range from transactional (short-term, arms-length) to strategic partnerships (long-term, collaborative). The type of relationship depends on factors like the complexity of the product or service, the level of risk, and the strategic importance of the supplier.
Key components include understanding supplier dynamics, stakeholder management, partnering, performance management, and risk management.
Strong supplier relationships can lead to cost savings, improved quality, increased innovation, enhanced supply chain resilience, and improved customer satisfaction.
TESTED 04 Dec 2024
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