Partnerships Boost Market Share

Compiled ByDeborah Austin Partnership quality can prove a key driver in supply chain management success or failure, says a new report, Best Practices in Supply-Chain Partnership and Certification. The report, from Chapel Hill, N.C.-based benchmarking firm Best Practices LLC, pinpoints how top companies choose, evaluate, and communicate with suppliers to build profitable relationships. Savvy purchasing managers form supplier relationships with near-perfect delivery rates, virtually error-free orders, and slashed lead times -- beating out competitors with poorly managed supplier relationships -- says the report. Other key drivers: partnership identification and selection -- evaluating suppliers in light of company needs; supplier certification -- establishing a common language and fostering trust; technology -- with customized software systems and extranets for increased accuracy; and communication -- with multiple tools to cut response times and improve relationships.