CONTINUOUS SUPPLIER RELATIONSHIP MANAGEMENT FRAMEWORK
Procurement has become a key strategic business function for companies, which in turn has made supplier integration a key activity in supply-chain management. Thus, appropriate supplier relationship management is important in ensuring successful supplier integration and in determining the degree...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Zagreb, Croatia / Faculty of Economics and Business / Department of Trade and International Business
2019-01-01
|
| Series: | Poslovna Izvrsnost |
| Subjects: | |
| Online Access: | https://hrcak.srce.hr/file/333916 |
| Summary: | Procurement has become a key strategic business function for companies, which
in turn has made supplier integration a key activity in supply-chain management. Thus,
appropriate supplier relationship management is important in ensuring successful
supplier integration and in determining the degree of integration. Scholars have
developed various supplier relationship frameworks to support managers’ efforts to
manage their supplier relationships. However, no framework is suitable for every
organization, and there is no guarantee that adopting and integrating a framework will
lead to success. Each framework’s benefits and drawbacks should be considered. In this
paper, we review the most recent frameworks for supplier relationship management and
then develop a new framework that addresses their issues. This proposed three-phase
framework allows for greater flexibility and faster adaptation to the changes that occur
in the turbulent business environment. The framework also allows for sufficiently detailed
development of selected suppliers and enables buyer and suppliers to cocreate value.
Additionally, with the help of appropriate IT support, the proposed framework facilitates
continuous, stable and real-time data exchange, which in turn speeds up the decisionmaking
regarding both operational and tactical procurement activities. This paper’s main limitation is that the proposed framework builds on the analysis of shortcomings of
previously developed frameworks and thus requires further validation. |
|---|---|
| ISSN: | 1846-3355 1848-9060 |