Better Buying Partnership IndexTM (BBPI), a new tool which examines buyer-supplier relationships through the lens of partnership quality, has said that various brands and retailers are missing opportunities to improve their businesses, and are incurring unnecessary costs, by not seeking out their suppliers’ ideas and insights on product and process innovation. It says they must partner with their suppliers on innovation to drive business efficiency.
Marsha Dickson, President and Co-founder of Better Buying Institute said, “Brands and retailers are missing opportunities to reduce costs and increase efficiency by not partnering with and listening to their suppliers, and not fully seeing the contribution suppliers can make to the long-term success of the business.”
The BBPI enables suppliers to rate their buyers according to 12 subjective measures, with buyers categorised as either True Partners, Collaborators or Detractors. The label of True Partner is only granted when a buyer has satisfied a particular measure all of the time.
The Industry We Want (TIWW) initiative quotes the Better Buying Institute’s (BBI) new Partnership Index which gave buyers an annual score of just 39 out of a maximum of 100.
“These findings paint a clear picture of the pressure suppliers are under with so many buyers never, rarely, or sometimes providing enough time, adequate visibility, stable business and fair financials,” said a TIWW statement.
