When we’re shopping in our personal lives, most of us want to think that we’re special, and as such, deserve preferential treatment – whether it’s free upgrades for our frequent airline miles or that complimentary glass of wine from the restaurant we go to every Friday night.
There’s a supply chain equivalent called Earned Preferential Treatment: If we buy a lot from our suppliers and pay our bills on time, we should be valued by our customers and get perks. As research conducted by Michigan State professor Steven A. Melnyk and his colleagues reveals: It’s not that simple.
On this episode of Talking Supply Chain, Melnyk what your suppliers value, and what it takes to earn preferential treatment that will deliver a competitive advantage.
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