Poor Supplier Communication is the Enemy of Competitiveness
Be it in life or business, good relationships rely on good communication. It’s a fact that many have come to embrace – except for in supplier relations. Here, there is plenty of room to improve. A new HICX survey found that 98% of suppliers to some of the world’s biggest manufacturers want these businesses to communicate better.
Read also: Enhancing Supplier Collaboration: A Key to Business Success
The consequence for a manufacturer is less popularity amongst suppliers. So, the quality of their supplier data drops. Then, the corporate agenda takes a tumble. Because, when key items (for example, cyber security and sustainability) rely on poor data, they can’t possibly be expected to succeed.
Ultimately, what poor supplier communication does, is make manufacturers uncompetitive. It’s time, therefore, for leaders to acknowledge this issue and make it a priority.
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