Some potential challenges in negotiating and collaborating with suppliers could include communication barriers, cultural differences, lack of trust, and differing business practices. It's also possible to face issues related to supply chain disruptions, which can be mitigated by leveraging local supply chains and integrating technology for better visibility and management.
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Value relationships – ecommerce isn't the ultimate remedy, Hicks says. He stressed the importance of having relationships with the suppliers that are key to your business. "You need to be able to negotiate and collaborate with people in a time of crisis in order to brainstorm and adapt to the situation at hand," Hicks says. Leverage local supply chains – when life happens and disrupts your supply chain, the time it takes to get finished goods to your facility is crucial. To reduce transportation time and allow you to acquire products in a matter of hours versus days or weeks, Hicks recommends looking for local or regional sources. He says: "Local and regional distribution can (and should) still provide global reach and planning. Search out the providers who can manage and execute a supply chain on the local level." Integrate technology – technology can offer the necessary clarity in "fog of war" situations, Hicks says. Provide visibility into employee behavior when it comes to product...