Strategic Partnership - Taking your Supplier relation to the next level

Fortune 500 companies are at an increasing pressure to improve efficiency and bring about innovative processes to stay in the competition. In recent times there have been a lot of newer avenues being explored by companies to have a robust supply chain. From improving process efficiency to building closer relationship with suppliers - companies are slowly moving to a path to better the supply chain.

However, according to a survey by Hitachi Consulting, 80% of supply chain managers do not see the supply chain as an enabler of business strategy.

With incidents such as Aston Martin recalling more than 17,000 of its cars following a revelation that a Chinese subcontractor was supplying counterfeit plastic to one of Aston Martin's suppliers in the country, it becomes clear that Procurement is yet to be given the importance it demands. So, there is something which companies are missing out to strategize their procurement plan.

With more and more such incidents, companies are realizing the importance of having a strategic supplier relationship at least with their key suppliers. Strategic partnership is being viewed as the key for supply chain resiliency