Question

NO HANDWRITTEN ANSWERS PLEASE

Traditional buyer-supplier relationships revolve around financial considerations. Buyers and suppliers both try to get the best deals for their companies; often one’s gain is the other’s loss. Many firms today are valuing sustainable operations, which involves financial, environmental, and social responsibility. Explain how buyer-supplier relationships are evolving in this new environment.

Answer 1

As the market is evolving opportunities for buyer and suppliers are also increasing. Availability of different forecasting tools have enabled suppliers to maintain better forecasting methods for the overall revenue generation as well as to maintain relationship with the buyers. This type of approach has enabled organisations to maintain a collaborative approach of maintenance of a sustainable supply chain which increases the chances of benefiting both side of the operative environment.
Suppliers are focusing on selling goods to the international market as well as the national market by increasing the level of profits and reducing the waste in operation of the supply chain where buyers are directly looking forward purchasing from the best available source with high quality materials and better sustainability.
As the approach towards financial, social and environmental awareness has been vary widely implemented, many of the organisations are directly focusing on choosing environment friendly supply chain over traditional mediums. This type of approach enables suppliers to maintain a standard of environment friendly operations in supply chain also increasing the level of ethical business in marketing. Value in sustainable approach of implementation of such a specific strategies also reduces the overall waste involved in Operation benefiting the society and improving the level of profits for both supplier and the buyer.
We can say that sustainable resources as well as move towards sustainability has very badly affected the overall operational structure of supply chain management system. Implementation of electronic management systems have very badly affected the overall efficiency as well as productivity of the organisations in terms of maintaining high quality standard and reducing the total cost involved in Operation providing positive results for buyer and supplier relationship.