Business Partnerships – Is There Really Such A Thing? Article

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Business Partnerships – Is There Really Such A Thing?

For decades we have been hearing this phrase and while some embrace it, others say it is outdated and over-used. The reality is for those that not only embrace the concept but practice it, the benefits can be staggering.

Author: Tony Nuzio

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So what does it take to have a “real” partnership? It takes business partners with a vision for greatness within their corporate structure and a strong desire to see the business partner succeed as well.

A great way for logistics partners to promote these business partnerships is to prepare a Business Partnership Guide for distribution to all company suppliers and customers. The Business Partnership Guide must include a variety of disciplines that the partners agree to work on to achieve unparalleled success. Here are some suggestions so you can get started on building your partnerships:

• How to create additional profit opportunities for all business partners, as well as better service to customers in a true Win-Win-Win supply chain relationship.

• How to increase sales and market share through aggressive marketing programs.

• How to reduce inventory levels by sharing product demand information in order to meet customer demand requirements.

• How to reduce transaction costs through electronic commerce alternatives.

• Optimizing logistics performance with cost efficient transportation.

• Eliminating redundancies in each sides’ operation to drive down supply chain operating costs.

• And most importantly, be sure to include a Business Partner’s Scorecard. If business partners take the first step in developing a business partnership philosophy, they must be sure to consistently measure how each partner is performing.

It’s time for business partner’s to put their money where their mouth is. By establishing a strong Business Partnership philosophy that clearly defines the goals and objectives in the partnering arrangement, there will be no question as to the success of the program. What are you waiting for?

About Author

President and CEO of ICC Logistics, Inc.

Article Source: http://www.1888articles.com