Supplier development is the process of working with suppliers to improve performance and expand their business capabilities to the benefit of the buying organization.
Supplier development is employed by many top-tier corporate supplier diversity programs because of the benefits:
Improved transparency between the buying organization and the supplier
Improved collaboration between organization and supplier
Streamlined and reduced sourcing activities and lead times
Improved quality, manufacturability, and reliability for new designs
Increased supplier responsiveness
Increased customer satisfaction
Increased awareness of supplier diversity
Increased visibility of full supply base to procurement, quality, and management departments
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