This was an expensive oversight that resulted in a lot of lost work hours and delayed deliveries. What changes do we need to make to keep this from happening again?
You:
Currently we’re only working with a single supplier for replacement parts like this. That’s really unusual in our industry. I suggest we shop around for 2-4 additional suppliers to build relationships with.
CEO:
Sounds like a great idea. So where will we find these suppliers? How will we choose the good ones?
You:
One option is to join a(n) private exchange, consolidated exchange, independent exchange, or marketplace exchange where we can partner with other food manufacturers for more negotiating power to get better prices with proven suppliers.
CEO:
Our procurement needs might be a bit different than other food manufacturers. Will an exchange be able to provide us with what we’re looking for?
You:
Suppliers use purchase management, market segmentation, automated workflow, and demographic management techniques to adapt to the various needs of different B2B customers. If we join an exchange that includes other pet food manufacturers, I’ll think we’ll find a ready-made supply chain to meet our needs.
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