Вопрос
(a) Discuss success of the supplier relationship is based on several key success factors. Discuss five of these factors. [10marks] (b) Explain factors that may drive buyer and supplier organization to indulge into long term relationships. [10marks]
Решения
4.3
(172 Голоса)
Чеслав
ветеран · Репетитор 10 лет
Ответ
(a) 1. Communication2. Trust3. Quality4. Flexibility5. Cost-effectiveness(b) 1. Mutual benefit2. Reduced risk3. Economies of scale4. Shared knowledge5. Strategic alignment
Объяснение
1. The success of the supplier relationship is a critical aspect of business management. Several key success factors contribute to this success.2. The first factor is communication. Effective communication ensures that both parties understand each other's needs and expectations. This helps in avoiding misunderstandings and ensures smooth operations.3. The second factor is trust. Trust is the foundation of any successful relationship. In the context of supplier relationships, trust ensures that both parties can rely on each other, especially in times of need.4. The third factor is quality. Providing high-quality products or services ensures customer satisfaction, which in turn ensures repeat business.5. The fourth factor is flexibility. Being able to adapt to changing market conditions or customer needs ensures that the supplier can meet the evolving demands of the buyer.6. The fifth factor is cost-effectiveness. Offering products or services at a competitive price ensures that the buyer gets value for their money.7. Long-term relationships between buyer and supplier organizations are driven by several factors.8. The first factor is mutual benefit. Both parties benefit from a long-term relationship, whether it's through repeated business or shared resources.9. The second factor is reduced risk. Long-term relationships reduce the risk of switching suppliers or buyers, which can be costly.10. The third factor is economies of scale. Long-term relationships allow both parties to benefit from economies of scale, reducing costs per unit.11. The fourth factor is shared knowledge. Over time, both parties gain a deeper understanding of each other's operations, which can lead to more efficient business practices.12. The fifth factor is strategic alignment. Long-term relationships allow both parties to align their strategic goals, ensuring that they work towards common objectives.