What are the steps involved in supplier development?

Supplier development is a critical process for organizations, as it leads to the creation of stronger partnerships and more efficient supply chains. The steps involved in supplier development typically include identifying the areas where a supplier needs improvement, setting clear goals and targets, establishing a plan to achieve these targets, monitoring and evaluating progress, and providing ongoing support and feedback. During the process, it's essential to establish open communication, collaborate on strategies, and maintain a commitment to continuous improvement. Overall, successful supplier development can lead to robust, reliable relationships and help companies build a competitive advantage in their respective industries.

This mind map was published on 18 April 2023 and has been viewed 94 times.