Trust in Maintaining Business Relationships - 783 Words

With respect to the Northumbrian Water suppliers, Bensaou’s portfolio of buyers supplier relationship model is adopted to segment or categories suppliers. After segregation into different types of suppliers, Northumbrian Water choses to engage with its top 50 suppliers which indicate most of them to fall into the strategic partnership segment of the Bensaou’s portfolio. This indicates high trustworthiness, early supplier involvement and that these suppliers and buyers customize, specialize, differentiate, adapt, learn and innovate its supply processes according to the changes and requirements through exchange of information and expertise. In a strategic partnership the buyer and supplier tend to engage in a close long term relationships†¦show more content†¦The same follows for transparency as well, transparency is not possible without trust. In late 1980’s, the success of Japanese companies triggered academics and practitioners who found that their managers had treated their suppliers as valuable resources, which was important to the companies’ success. Therefore, immense effort was put in to maintaining a good relationship with the suppliers. Contradicting to the Japanese, the Western companies treated supplier relationships as â€Å"additional† to the key procurement management role. The recent developments, such as rising complication of technologies, global competition, and need for competitive advantage are demanding â€Å"even more collaborative relationships with suppliers† (CIPS,2014). Northumbrian Water, believes that, collaborating and engaging with its suppliers is a key to supply chain sustainability, which narrows down this essay to discuss about only the supply management features and concepts associated with this article, (SRM) Supplier Relationship Management and sustainability. 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