New study reveals key factors shaping success of supplier development programs.
Supplier development programs are important for companies, but they need to choose suppliers wisely. A study looked at how different factors on the supplier's side affect the success of these programs. They found that when companies are directly involved in developing suppliers, the size of the supplier, the complexity of the products, how well the buyer and supplier work together, and the supplier's management systems all play a role in how successful the program is. On the other hand, when supplier development is done through assessment or certification, how well the buyer and supplier work together is the key factor. This study helps us understand how different factors can impact the success of supplier development programs.