Article
Version 1
This version is not peer-reviewed
The Role of Trust in Supplier Relationships: Perspectives from Procurement Professionals
Version 1
: Received: 9 July 2024 / Approved: 9 July 2024 / Online: 10 July 2024 (14:02:15 CEST)
How to cite: Cooper, M. The Role of Trust in Supplier Relationships: Perspectives from Procurement Professionals. Preprints 2024, 2024070779. https://doi.org/10.20944/preprints202407.0779.v1 Cooper, M. The Role of Trust in Supplier Relationships: Perspectives from Procurement Professionals. Preprints 2024, 2024070779. https://doi.org/10.20944/preprints202407.0779.v1
Abstract
This qualitative study explores the pivotal role of trust in supplier relationships from the perspectives of procurement professionals. Through in-depth interviews with diverse industry stakeholders, the research examines the multifaceted nature of trust, its antecedents, dynamics, challenges, and strategic implications within modern supply chain management. Trust is conceptualized as a cornerstone that fosters collaborative exchanges, mitigates risks, and enhances organizational resilience in a competitive global marketplace. Findings highlight key factors influencing trust formation, including effective communication, ethical conduct, relationship history, transparency, and cultural alignment. Challenges such as perceived opportunism, communication breakdowns, and regulatory compliance issues are identified as barriers requiring proactive management strategies. Strategies for building and maintaining trust emphasize proactive engagement, transparent decision-making, performance evaluation, mutual benefit alignment, and effective conflict management. The study further explores the impact of trust on procurement decisions, supplier performance, innovation capabilities, cost efficiencies, and long-term sustainability. Practically, the research underscores the importance of integrating trust-building initiatives into supplier relationship management strategies to optimize operational efficiencies, foster innovation, and achieve sustainable growth. By aligning procurement practices with supplier capabilities and market dynamics, organizations can navigate complexities, seize opportunities, and enhance strategic partnerships that drive mutual value creation. Future research directions include exploring emerging trends such as digitalization, sustainability, and ethical considerations in trust-based supply chain interactions.
Keywords
Trust; supplier relationships; procurement; supply chain management; challenges; strategies; impacts
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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