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4 What is an effective supplier relationship management idea? A fair return to the vendor is acceptable and the financial relationship should therefore be on
4 What is an effective supplier relationship management idea? A fair return to the vendor is acceptable and the financial relationship should therefore be on an "open book" basis. Your answer is correct. For a long-term relationship to be successful, both the supplier and the customer need to perceive the relationship as mutually beneficial, including a fair market price for services based on an understanding of the vendor's actual costs. (Reference: 4-2-1)
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