Spend time on any manufacturing floor and you will realize that relationships between suppliers and partners are critical. Rather than considering them as an entity outside of your organization, suppliers should be treated as trusted partners.
More and more, manufacturers are expanding their supply chain to reach new markets and reduce operational costs. However, this can leave manufacturers exposed to a higher risk of product quality issues and operational inefficiencies.
A solid working relationship with your suppliers is essential to your business success. Assessing your risks is also good for business. But is your organization fully engaged in these business practices?
