Every day, your company spends a lot of time and money managing hundreds, if not thousands, of supplier relationships. But with information scattered throughout your organization, it's hard to measure supplier performance. That's a real cause for concern, given today's risky global supply market. You can only hope you won't be caught off-guard by a supplier's noncompliance or unexpected failure. Of course, hope alone won't cut it.
In Part I of this week's Knowledge Nugget, we will explore what it takes to build a successful supplier management program. Coming out of the global economic crisis, a new business climate is taking shape that will permanently change the way organizations deal with buyer-seller relationships. In this series we will share how best-in-class companies leverage collaborative supplier management as a means to mitigate supply chain risk and drive revenue growth and profitability.