The average large business spends five times as much on suppliers as it does on its people. Even central government spends more on suppliers than civil servants. With an ever-more complex inter-connected world, this ratio is only going to increase.
Suppliers are important because they can expand your capability and increase productivity, or in some instances replace your in-house capability. Increasingly, they are the source of innovation in your business. Much of your business’ environmental/CSR impact is the result of suppliers working on your behalf, and the majority of your operational risk will reside within your supply base.