How loving your suppliers can up product quality and lower your costs
Do you keep antagonistic relationships with your suppliers to keep them on their toes? Here’s why building your relationship may be a better strategy.
If you already have a well-established business with tight controls, chances are that you’re probably proud of how you keep your suppliers on their toes. You probably do this by offering only short-term contracts (to easily replace underperforming suppliers), having formalized bidding process (to remove personalities from the supplier assessment), and imposing strict requirements (to squeeze as much as you can from them).
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