When it comes to managing relationships with suppliers, businesses are under increasing pressure. Why has this come about? Partially it’s because of evolving standards and legislative requirements related to human rights, social inequality and safeguards for consumers (amongst other factors). These require businesses to be proactive with their suppliers, to ensure compliance.
Alongside this, there is a rising numbers of online commentators, who are using social media, blogging and video to highlight any apparent success or otherwise. While businesses were once less visible, this modern network of influencers means the need for transparency is growing. Now, more than ever, organisations need to understand how the expectations of supplier management are changing, so they can meet and exceed them.
The influence of environmental factors on supplier relationships