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Article 7 is titled “Reinventing Supplier Innovation Relationships” and includes the following topics:
Create internal alignment among critical functional groups.
Agree on an internal definition of commodity versus innovation
Actively manage the portfolio of supplier innovation projects.
Develop an effective communication structure to support a zipper approach to the relationship
Create a common language.
Keep organizational responsibilities in phase with the asset’s transition from innovation to commodity
Build and maintain trust
Establish structures that allow each firm to respond to the dynamics of the other’s business model
Apply meaningful metrics
Wall Street Journal Article: “How U.S. Uses Supply Chain Sway to Throttle China’s Chip Development,” Link: https://www.wsj.com/articles/how-u-s-uses-supply-chain-sway-to-throttle-chinas-chip-development-11666526403Links to an external site.
Please review the assigned materials before answering the questions below.
Discuss the importance of reinventing supplier relationships after the global supply disruption created by the COVID-19 pandemic.
Describe how buyers and suppliers can work together to create innovative solutions while dealing with restrictions set by the United States.
What are the risks of developing new product innovation relationships with suppliers outside China?
Please provide an insightful question about establishing innovative partnerships to solve the current challenges created by disruptions in global supply chains. Why is this an important question?