Retailers are always looking for the most profitable ways to bring products to market. This essentially means an increased dependence on suppliers and wholesalers.
A top-down view of the supplier-side business is important for the success of a retail business. Suppliers impact the buying choices of shoppers and therefore, it becomes necessary to nurture a healthy working relationship with them.
Building and preserving this liaison falls into the scope of ‘Supplier Management’. Effective Supplier Management increases customer satisfaction, ensures better product quality and quality of service from the supplier, while reducing costs at the same time.