Third Party Supplier Relationship Management (3 P.L. S.M.S.)

Third Party Supplier Relationship Management (3 P.L. S.M.S.)

Read the Forbes article, Risky Business, High Payoffs (https://www.forbes.com/2008/05/25/core-deals-strategy-oped-cx_jh_pb_outsourcing08_0529risk.html?sh=408413da4c9c).

-Based on the content presented in the article, what is the value to the company and the supplier in developing and implementing a Third Party Supplier Relationship Management System (3 P.L.S.M.S.)?

-How can such a system provide greater efficiency?