About Lesson
Supplier Relationship Management
Building strong, long-term relationships with suppliers can significantly improve the efficiency and reliability of the component sourcing process.
Key Practices:
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Regular Communication: Maintain open lines of communication to discuss issues like pricing changes, lead time adjustments, and potential improvements in supply chain processes.
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Performance Reviews: Periodically review supplier performance in terms of quality, delivery times, and responsiveness to resolve any ongoing issues.
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Collaborative Problem-Solving: Work with suppliers to address challenges like component shortages or design changes that may affect the supply chain.