Report outlining the major stages & variables of Business Relationship Literature review

Report outlining the major stages & variables of Business Relationship cave inment (BRD) - Literature review Example all organization specialising in the production of a particular justs has a number of supplier who supplies raw materials and equipments to the company. Thus, stages for broadening supplier descents are the focus of the current study. This report gives insights into the essential steps and ideas required in attaining an efficient supply chain management strategy in the concerned DIY furniture company.The concept of business kind management deals with linking the organization with various stakeholders in order to fulfil business requirements as efficiently as possible (Krause et al. 2007). In order to develop a new supplier relationship, organizations like DIY furniture provider, faeces implement the supplier relationship model. The Supplier Relationship Model (SRM) consists of planning and maintaining a constructive relationship with the suppliers who supply mat erials and goods to the business (Hakansson, 1982). SRM is a part of supply chain management that provides major focus on developing and nourishing a strong relationship with the organizational suppliers. As per the model, when a business communicates with its suppliers, it need to manage its entire supply chain in an efficient manner. Buying SRM software is a good option to start. Apart from that, there are four other stages that can be taken into news report to build a good partnership with the suppliers and increase an overall organizational performance.In order to develop a good supplier relationship, business organizer can purchase Supply Chain trouble Software (SCMS) that contains features of SRM or apps (Wilson, 1995). This type of software includes invaluable features to perform a task of building a good relationship, such as deifying and accommodating new suppliers, monitoring suppliers performance, providing all supplierss updated business profile etc. This software hel ps to keep