The relationship between suppliers and buyers has long been based, naturally, on the law of supply and demand. Which means that there’s always a certain amount of tension between the two parties, as each maneuvers to obtain the highest or lowest possible price, depending on which side they’re on. So is there any room for actual collaboration, based on more than just price? Sheldon Mydat, founder and chief executive officer of Suppeco, thinks so. On this episode, he discusses how suppliers and buyers can elevate their engagement, at a time when the COVID-19 pandemic has awakened everyone to the need for managing and mitigating risk in global supply chains. He also talks about what it means to be a “supplier of choice” and “customer of choice.” “Until now,” he says, “it’s been all about the numbers.” Not anymore. Hosted by Bob Bowman, Editor-in-Chief of SupplyChainBrain.
A case study of collaborative supplier relationship management with BAE Systems.
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