From Vendor to Partner – Why and How Leading Companies Collaborate with Suppliers for Competitive Advantage

In a global marketplace characterized by ever increasing levels of competition, companies need to reorient themselves to systematically identify and capitalize on ways to create value with their suppliers. According to a recent study conducted by Industry Week and IBM, more than 62 percent of purchasing executive respondents said that supplier collaboration was the most effective means by which to (further) reduce costs and increase profitability—significantly more than those who named global sourcing, and nearly twice as many as named spend analysis.

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