Supply chain relationships refer to the connections and partnerships between businesses and their suppliers, distributors, and other key players in the supply chain.
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Effective supplier management is crucial for maintaining smooth operations and ensuring that goods and services are delivered efficiently. Supplier Relationship Management (SRM) is a strategic approach to managing these relationships, focusing on long-term collaboration and mutual benefits.
There are different types of supply chain collaboration, such as transactional, strategic, and collaborative partnerships, each varying in the level of cooperation and shared goals between the parties involved. Understanding and optimizing these relationships is essential for improving supply chain performance and reducing costs.
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