Vendor Development – Key to Success for Small Businesses
In the fast-paced business world, small companies always look for ways to stay ahead. One effective strategy that is sometimes overlooked is vendor development. What is Vendor Development? Vendor or Supplier Development is the area which involves building solid relationships with select suppliers to improve supply chain efficiency and overall business performance. Supplier development involves working closely with suppliers with better potential to cater to the buyers' needs, aiming to achieve significant performance improvements. A comprehensive plan can be developed...