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Moral Capitalism by Stephen Young

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CHAPTER 10 SUPPLIERS: FRIENDS OR FOES?

Haggling over every ounce in purchasing may not reduce one’s cost of capital.

—Ninth Business Principle, Tao Zhu Gong, Assistant to the Emperor of Yue, 500 B.C.E.

SUPPLIERS ARE A STAKEHOLDER CONSTITUENCY more relevant to the success of manufacturers than other businesses, although all firms rely to some extent on the products and services of other businesses to support their ability to serve their customers. Suppliers intensively support the manufacturing process; their quality shapes the quality of the final product that a business sells to its customers, while suppliers prices impact the cost of manufacturing that product. Yet for all businesses, suppliers of inputs and of services can add to or detract ...

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