Article
Version 1
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Challenges and Successes in Supplier Development: Experiences from Procurement Managers
Version 1
: Received: 6 July 2024 / Approved: 8 July 2024 / Online: 8 July 2024 (08:32:17 CEST)
How to cite: Cooper, M. Challenges and Successes in Supplier Development: Experiences from Procurement Managers. Preprints 2024, 2024070573. https://doi.org/10.20944/preprints202407.0573.v1 Cooper, M. Challenges and Successes in Supplier Development: Experiences from Procurement Managers. Preprints 2024, 2024070573. https://doi.org/10.20944/preprints202407.0573.v1
Abstract
This qualitative study explores the challenges and successes in supplier development from the perspectives of procurement managers across diverse industries. Through in-depth interviews, key themes emerged, highlighting the critical role of communication, trust, performance measurement, capacity building, risk management, innovation, regulatory compliance, and technology integration in supplier relationship management. Procurement managers emphasized the importance of clear, continuous communication and trust-building activities to align objectives and foster collaborative partnerships. Performance measurement was crucial for evaluating and improving supplier performance, supported by capacity-building initiatives to enhance supplier capabilities. Risk management strategies focused on identifying and mitigating risks, while compliance efforts aimed to ensure adherence to industry standards. Innovation and technological integration were pivotal for driving efficiency and competitiveness, enabling faster time-to-market and improved product quality. Cultural sensitivity and relationship strengthening emerged as essential for navigating diverse cultural contexts and enhancing partnership effectiveness. Overall, the findings underscored positive outcomes including enhanced quality, cost efficiencies, and increased resilience within supply chains. This research contributes valuable insights into effective supplier management practices, emphasizing the strategic importance of supplier development initiatives for sustainable growth and competitive advantage in today's dynamic business environment.
Keywords
supplier development; procurement management; communication; trust; performance measurement; innovation; risk management; compliance
Subject
Business, Economics and Management, Business and Management
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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