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supply chain: Relationship management

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Discuss why relationship management is so important in managing the supply chain. Provide examples of why building, and maintaining these relationships is important.

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The answer to this problem explains the role of relationship management in supply chain management. The references related to the answer are also included.

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Relationship management is important in managing the supply chain because the supply chain plays a critical part in ensuring the continuity and profitability of the business. A breakdown of the supply chain can mean stoppage of the manufacturing process, increase in costs, and stock outs. Supplier relationship management provides a method of engagement with the supplier. Relationship management with the supply chain ensures that customer's requirements to the supplier are identified and managed properly. It communicates customer demand and off-take details to the customer so that overstocks and stock-outs are avoided. Relationship management with the suppliers ensures that at operational level process mapping is done so that the supplier has the details ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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