Transforming Supplier Relationships for Enhanced Product Development and Innovation
The goal of the paper is to improve supplier performance in a consumer goods company in Thailand. They measured quality and delivery data before and after implementing a supplier management program. The study found that selecting and managing suppliers based on their performance is crucial for manufacturing firms. The program effectively improved suppliers' performance, showing the importance of strategic decision-making in supplier selection. Through transparent evaluation, firms can build trust and long-term relationships with suppliers, leading to product development and innovation. Developing a supplier management system with objective measures is key to enhancing overall competitiveness.