What are some successful examples of supplier collaboration?
Successful supplier collaboration can be seen in companies like Toyota, which works closely with suppliers to improve quality and efficiency.
Can you give me more details about Toyota's approach?
Toyota uses a system called 'Keiretsu,' fostering long-term relationships with suppliers to ensure mutual growth and innovation.
Are there other industries where this is effective?
Yes, the tech industry, like Apple and its suppliers, also benefits from close collaboration to enhance product development.
What are the key benefits of such collaborations?
Key benefits include improved quality, reduced costs, faster time-to-market, and enhanced innovation through shared expertise.
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