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Relationship management: The report says that relationship management within a rationalized supply base is founded on three critical elements:
1. Information sharing and transparency
2. Trust building
3. Equitable joint efforts
Though this sort of framework has been widely discussed, the research found that making progress on them is not easy, and many companies have a relative lack of success in these areas with suppliers, resulting from such as factors as short-term thinking or financial performance requirements and difficulty establishing a culture that really believes and operates this way.
The report also notes that the mix of these three elements, and with how much "intensity" a company should pursue improvement in them, will vary based on the criticality of the purchase category and/or individual supplier.
The report notes one firm had success in information sharing when it adopted Six Sigma as a kind of common language between itself and its key suppliers.
In our view, the report is a little short in terms practices in the third area, equitable joint efforts, which involves a level of collaboation and trust difficult for many companies to achieve.
LISTENING SKILLS,ALWAYS LISTEN,LISTEN,LISTEN.
THAT IS THE MOST IMPORTANT SKILL
IMPROVE YOUR LISTENING SKILLS,NOT HEARING SKILLS,.,
I am afraid would that there is no short cut to acquiring such skills. it mainly comes with experience. however, this does not undermine the importance of relevent education and acument in the field. Having said this, one needs to go through case histories and need to determine himself as to what is effective and efficient method of communication. The most important aspect to be kept in mind is that the communication should not be so rigid as to breakaway the relationship, and should neither be so soft that our interests are compromised.
By training and double visits with experienced colleague.
