Why do industry members often seek collaborative partnerships with suppliers?

Collaborative partnerships with suppliers are often pursued by industry members primarily to enhance the quality of parts supplied. When companies work closely with their suppliers, they can establish better communication, share insights, and collaborate on product development. This level of engagement can lead to improvements in the quality of materials and components, as suppliers can become more attuned to the specific needs and standards of the industry member.

Additionally, such partnerships facilitate a mutual understanding of expectations and requirements, leading to innovations that might not have been possible in a more transactional relationship. This approach contrasts with merely seeking to reduce the costs associated with switching suppliers or eliminating competition, as fostering and maintaining strong relationships can yield significant long-term benefits in quality and performance.