You no doubt like to think of your company as a firm with which it is easy to do business. You pay your invoices on time, you do not put in too many rush orders, and you have even implemented EDI tools to make communication seamless and simple. So, why haven’t your major suppliers come on board and integrated with your EDI tools?
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If you were asked to identify your most valuable asset, you would most likely answer that it is your customers. You would not be wrong; you need your customers in order to survive. However, there is another group that you rely upon for your survival: your suppliers.
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Think about the important business relationships in which you invest. Obviously, you have invested heavily in the relationship with your customers. What about other business relationships, especially the ones you have with your suppliers?
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When you think of important business relationships, your customers are probably the first group that comes to mind. Maintaining good relationships with customers is paramount to any company. However, there is another group that enables you to satisfy your customers, namely, your suppliers
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The term “digital transformation” has gained an unfair reputation for being meaningless jargon. When that happens, there are a few outcomes; the term becomes misunderstood, people ignore it altogether, and very few people benefit from it. That is unfortunate, because digital transformation is so much more than a buzzword; it represents a deep and dramatic change in the way companies do business.
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