Supplier development is a long-term collaborative effort between suppliers and the buying organization to generate new competencies in suppliers. Both parties can gain benefits from this development program but there are also many challenges faced by the buyer.
Knowing Suppliers Beforehand
It is good to know your supplier beforehand, this will help to build a strong and long-term relationship. By going through your supplier current and past projects you can seek evidence of good performance and also ensure suppliers comply with the laws and regulations.
Supplier Capability Assessment
Assessing supplier capabilities can help to recognize their base capabilities, efficiency and system gaps. Supplier management capability will give you an overview of supplier vision for the business and their future commitments.