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Making Chips Podcast for Manufacturing Leaders
Are You Putting Too Much Trust in Your Supply Chain? 403
Apr 12, 2024
Exploring the importance of trust in vendor relationships and balancing business savvy with friendships. Discussion on providing value to vendors, transparency, and navigating price increases. Emphasizing the significance of building strong relationships in the supply chain for long-term success.
38:41
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Quick takeaways
- Building trust with vendors through transparency and communication is crucial for business success.
- Value-driven vendor selection involves considering factors beyond just cost for strategic partnerships.
Deep dives
Vendor Rating and Performance Tracking
Vendors in ProShop can be rated on a scale of one to five for their performance on each line item of a purchase order. This rating system allows for tracking vendor performance in terms of quality, price, delivery, and other factors, enabling users to evaluate and compare vendors' efficiency and reliability. Additionally, a performance report is generated highlighting issues such as late deliveries or quality concerns, offering a transparent view of vendor performance and facilitating constructive feedback for improvement.
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Listen to the best highlights from the podcasts you love and dive into the full episode