If there is one silver lining from the Great Recession, it is that companies are creating new business and supply chain strategies based on lessons learned.
But as I thought about this, I began to wonder how companies' supplier relationship management outreaches have been affected, and what that impact means long term for industries in which interactions between organizations and their suppliers were already strained.
It is likely that during the past 18 months or so, companies have been focusing on critical business needs instead of how they are getting along with their suppliers. I am certain that economic conditions have forced companies to make decisions that have negatively impacted these important connections.
If the good feelings and dealings have slipped away, how do you get back on track? First, begin by assessing the damage – is the relationship neglected, dampened, broken or severed? Then, take strong steps to address what is really wrong with supplier bonds.
In the recent Supply Chain Consortium Executive Briefing, Supplier Relationships: Picking Up the Pieces, co-authors Justin Brown and Bruce Tompkins outline some of the best steps to take in order to mend these relationships.
So how has the recession affected relations with your suppliers? What type of damage control are you doing?
Go!Go!Go!
Jim
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