It is critical that a manufacturer know their supply chain from many perspectives, such as: deciding the level of outsourcing, managing the procurement, managing the suppliers, managing the customer relationships, and being agile enough to identify problems to make a quick response. (Stevenson, 2012)
For this activity, respond to the following:
- Identify and describe at least two resources that can be used by manufacturers to better understand both the operational status and financial condition of their suppliers. How effective are these resources in the manufacturers’ decision-making process? Explain your reason(s).
- Describe at least one strategy that a manufacturer can employ to discover the strength of their business relationships with partners and suppliers. What actions can a manufacturer take to improve this relationship? Support your recommendation with examples.
A minimum of one reference is required.