Modern procurement best practices call for establishing strong relationships with suppliers, comparing supplier-buyer relationships to a partnership where each party benefits from the other one. But what is a good supplier-partner? Is it the supplier offering the lowest price? As tempting as it may be, choosing the lowest-priced supplier without consideration of other factors can bring unpleasant surprises on the long, medium and even short term.
Building a sustainable supply chain, with trusted supplier-partners, takes time and dedication. It takes assessing potential suppliers along with many different dimensions, which are aligned with the values of the buyer. These dimensions (or KPIs) may include quality, resilience, track record, transparency, environmental responsibility, social responsibility, ability to develop new products, R&D capacity, etc.
Ask us about our Sustainable Supply Chain Program and engage in fruitful partnerships with suppliers you know and can trust.