Planning and negotiating a contract while considering its impact on a supplier is an example of supplier relationship management. This practice involves maintaining a positive and strategic relationship with suppliers, ensuring mutual benefits, and fostering collaboration. By considering the supplier's position, the buying firm can negotiate terms that support a long-term, sustainable partnership.
References:
"Supplier Relationship Management: Unlocking the Hidden Value in Your Supply Base" by Jonathan O'Brien.
ISM guidelines on supplier relationship management.
CIPS resources on strategic supplier management.
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