Whether it is due to lack of resources, lack of skill sets or lack of knowledge, many suppliers are unable to keep pace with the businesses that rely upon them. The technical/industry knowledge, operational practices and skills that are fostered and developed within many businesses are not shared with or fostered and developed in their suppliers.
This compartmentalization of knowledge that has helped many businesses thrive and separate themselves from the competition also limits their ability to optimize their operations. Knowledge-sharing is perceived to be a risk that threatens competitive advantage rather than an opportunity to improve competitive advantage.
Enjoy curated articles directly to your inbox.