supplier development

supplier development

the practice of buying firms seeking closer relationships with their suppliers in order to provide mutual benefits: a better coordination of input requirements, a reduction in supply costs and the creation of opportunities for refining/developing compatible parts and product technologies. See KEIRETSU, LEAN MANUFACTURING, JUST-IN-TIME (JIT) SYSTEM, SUPPLY CHAIN MANAGEMENT, SOURCING.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson