The pressures on supply chains remain enormous, leaving many supply chain professionals with a key question: Is there a better way to work with suppliers, including critical outsourcing partners such manufacturers and third-party logisticsproviders?
Even before the COVID-19 pandemic underscored the critical skills gap across the procurement and logistics landscape, a report by the American Productivity & Quality Center put a pin in the talent shortages facing today’s industry professionals.
A look at the pioneering research and concepts behind formal relational contracts, with the goal of helping practitioners understand how such agreements can benefit their organizations.
It might be tempting for businesses to use their procurement or market power to position themselves to survive the pandemic. However, new and uncertain economic realities will mean the old notions of power and market strategy won’t work.
In the current climate of “economic populism,” buyers, sellers and their supply chains have an opportunity to step up and cope with major challenges through cooperation, transparency and flexibility.
Properly aligning metrics with supply chain partners to track and improve strategic relationships is an idea whose time has come. Simply monitoring transactions is not enough; metrics must add value.