In today's technological age, manufacturers can't possibly be at the cutting edge of every aspect of their complex products. Automotive companies, for example, now rely more and more on suppliers to assure the best experience for their customers and to keep them one step ahead of the competition. Take the car interior example in this article. Only a supplier who eats, drinks, and dreams car seats would discover a way to incorporate the consumers' love affair with their smartphones and car seat adjustments. Multiply this car seat example with the myriad of systems and components in any complex product and you see how encompassing advanced supplier technology is an absolute requirement for a manufacturer to stay in the game. And the company with the supplier ecosystem that promotes, encourages, and rewards supplier innovation [not just solving problems but uncovering unique product technology] will win the game.
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Lowering Supplier Costs How to move beyond price war and find bigger savings. |
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Getting Costs Under Control A manufacturing leader teams with a key supplier to decrease operating costs and gain a new business edge. |
| Supplier Collaboration With over 50% of manufacturer’s revenues being spent in the supply chain, firms have a vested interest in getting as much value from supplier relationships as possible. |