Partnering to build customer engagement value and relationships
Source:https://pure.au.dk/ws/files/185049774/Jim_H_eg_Pedersen_mgmt_PhD_Thesis_For_publication.pdf
Topic: Building buyer-supplier relationships: The emergence of collaborative practices
Author: Jim Høeg Pedersen
Date: 10th May 2020
Summary of the article
Jim Pederson researches the relationship that should exist between the buyer and the supplier. He says that there should be a strong relationship between the buyers and suppliers that should be sustained for a long period as long as the goals of the company are concerned. The author identifies the different roles played by the different individuals such as the managers, employees, shareholders, and the other stakeholders in strengthening the buyer-supplier relationship and also the satisfaction of the customers’ needs. He also analyzes the processes which take place during the strengthening of the relationship, which should always involve all the stakeholders being affected either directly or indirectly by the business operations. The author puts it clear that for any business to thrive there must be a strong relationship between the buyer and the supplier and also ensure that the customers are fully satisfied.
Customer satisfaction is the key to the success of any company or organization. The suppliers also play a wide role in ensuring the sustainability of the company. Any firm or organization needs to know the secret behind the strong relationship between the buyers and the suppliers. Jim says that with the strong relationship between the buyers and , there will be an that the firm will sustain its operations, maintain the loyalty of its clients, and eventually realize high profits. This has been the secret to most of the successful companies in the world. Most companies have been strengthening the relationship and use it as their competitive advantage to surpass other competitors. It is, therefore, good if all the firms adapt to the supplier-buyer relationship for the survival of their businesses.
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