If your company really wants to
operate
efficiently and
win
customers you should team up and build synergy with your suppliers rather
than bargain with them. When you start working together with your suppliers
to align your processes and eliminate the friction that costs you both time
and money, you can please
more customers down the line and create a
win-win
situation for both of you.
Integrate virtually and
co-innovate with
your suppliers.
Virtual integration
is characterized by
culturally different
value-added
relationships between
manufacturers and
suppliers who are
working together for a
common cause.
Many
large companies have
launched comprehensive and innovative environmental programs on their own,
not just for themselves but for their suppliers as well, most of whom are
SMEs. This initiative
is known as "Green Procurement".
