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Martin Murray

Should Your Business Reward Your Top Suppliers?

By December 10, 2008

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As companies work with smaller numbers of preferred vendors, some top US companies have implemented recognition programs to reward top suppliers. In an article last month, the supplier reward programs of a number of large US companies were examined.

Although the different companies operated a variety of recognition programs, the objectives were similar in that they rewarded suppliers for overall improvement, as well as those providing world-class delivery, quality and service. The benefits of recognition programs appear to benefit both the buyer and supplier; superior service for the buyer and improved customer satisfaction for the supplier.

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