Mutually Beneficial Supplier Relationship

Before launching a sourcing activity and approaching potential suppliers, it is necessary to evaluate them and establish what value they can bring to you. Supply market analysis is hard work but worth the investment in time. It involves the gathering of facts, data, observations and trends about the market for a given commodity or service. The value of supply market analysis An in depth knowledge of both the industry and the suppliers in it is critical to making the right sourcing decisions and to eliminate unnecessary risk. You need to establish how important you are to a supplier as well as how important he is to your business. This is one task that requires human effort as it cannot eas

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