What's your number one requirement for a good supplier?
For a large number of companies, it's communication.
Communication between manufacturers and their suppliers is more critical now, midst supply chain uncertainties and increasing political instability, than ever before.
What are some things that need to be communicated? These could include lead time, order status, MIPs, material availability, quality concerns, and any hold-ups or production delays.
Manufacturers should also communicate with suppliers on performance and any needs that the supplier should be fulfilling. How can a supplier improve without this critical feedback?
Are you communicating with your suppliers, and are they communicating effectively with you? You could be overlooking a basic tool for success.