Read Example 1. Add additional information. Your document should include about 100-150 words plus credible references.

Example 1:

Selecting a supplier is an important decision for an organization. A supplier can affect quality, availability to customers and ultimately, revenue. My organization partners with several suppliers/vendors and maintain their contracts in an on-going relationship. During Covid19, the healthcare industry was impacted negatively, however due to strong partnerships with suppliers and vendors, my organization was able to utilize decontamination and reuse of N95 masks and did not actually ever “run out” of supply. When suppliers are treated as partners, it benefits the organization in times of disruption (Anderson, 2022). The resource I found described an instance where the manufacturer of adhesives prioritized a supplier because of the long-term partnership that had been established (Anderson, 2022). Ultimately, these relationships should be evaluated and contracts should be adjusted routinely, but building trust and partnership can benefit both the organization and supplier (Anderson, 2022).

Another example from my organization is that we contract specifically with Bayer in regard to IUDs. We have built such a good relationship with them that when manufacturing is delayed, Bayer will ensure that our orders and supply needs are met when devices become available. We also are able to pass on cost saving to patients who do not have contraceptive coverage or insurance at all. Additionally, when insurance denies a claim for an IUD, they work with the patient to remove large balances and ensure that we are kept whole after providing a device to a patient but are not being reimbursed.

Anderson, L. (2022). DO YOU HAVE SUPPLIERS OR PARTNERS? Partners are always prioritized over transactional suppliers during times of allocation and disruption. Adhesives & Sealants Industry, 29(3), 9.

Useful resources:

  • Chapter 4 in Mastering Risk and Procurement
  • Part1, Chapters 12 & 13 in PMBOK® Guide
  • Part II, Sections 2.2, 3.23, & 3.24 in PMBOK® Guide