Supplier relationship management
Supplier relationship management can be viewed as a mirror image of customer relationship management. Here, too, product and service agreements detailing the parameters of the partnership are agreed on. Strategic plans that support manufacturing flow management and product development are worked out with important suppliers.
Long-term partnerships are entered with a small number of strategically important suppliers. These suppliers are integrated into the product-development process at an early stage and can help to significantly shorten development times in the process [3].