Bern – What are the 4 types of suppliers?
In the realm of procurement and supply chain management, understanding the various types of suppliers is crucial for effective sourcing strategies and relationship management. Suppliers play a vital role in the success of any organization, providing goods and services that are essential for operations. By categorizing suppliers into distinct types such as strategic, preferred, approved, and transactional, businesses can tailor their approach to each supplier category, maximize value, and optimize supply chain efficiency. This article explores the characteristics, benefits, and considerations associated with each of the four types of suppliers, offering insights into how organizations can strategically engage with their suppliers to enhance performance and achieve competitive advantage.
