How do ‘suppliers’ influence firm’s decision making? Discuss
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Answer:
Suppliers’ influence on the organisation’s strategies and control increase the supplier’s performance and effort levels. Proper monitoring and control practices should be used by the organisations to keep a check on the activities of suppliers. Organisations should monitor the order status and supplier’s production capacities, access supplier’s delivery schedule, supplier’s inventory level of raw material and finished products, and provide performance feedback.
Decision-making is a vital part of any business and a key function of its success. If the management of a company is decisive about making key decisions, employees will respect that. Customers and suppliers also notice how decisions are made in a company and this can affect its business success.
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