Partner is a label applied to suppliers with whom the buying organisation enjoys a longer term and cooperative relationship. It is part of a classification of potential buyer-supplier relationships, and represents a type of relationship in which both parties work to reduce waste, reduce cycle time, and create joint profit and other forms of value. The creation of joint working teams and the adoption of common work practices are linked to longer term relationships, in which both parties forego opportunism, and work towards longer-term goals. Such relationships are; however, time consuming to create and resource hungry. See also Cooperation, Lean Supply, and Win:Win.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.