Leveraging diverse suppliers as a major source of value production is a strategy for gaining a competitive advantage in a global, diverse marketplace.
Companies are increasingly dependent on supplier relationship management (SRM) to achieve business objectives, including profitability and strategic goals. New dynamics, like technology and the need for continuous innovation and agility to remain effective, are placing even more emphasis on effective supply chain management. Companies must source globally, utilize technology in new ways, adapt procurement functions for cost effectiveness, and be more responsive to customers.
A successful stra....