If you make a tangible product that could benefit from a strategic partnership for the supply chain, the decision to enter into an alliance is expensive. If you can do it for less yourself, then you don`t need a partner. But if you can move manufacturing to your own factory and maintain profitability without sacrificing quality, then definitely do it. For those of us in the service world, it`s often an even simpler decision. For a strategic partnership to work effectively, each party`s contributions must be clearly stated in a written contract. “Using Company Image X” does not indicate exactly how the company image should be used. “Distribution of Company Y`s product by Company X” and “Use of Company X` brand” are more specific. Agreements between companies in which one company examines only the financial aspect of the other company and, in return, generate profits in terms of turnover and reputation, constitute this type of partnership. They give, for example. B, the accounting task to a given company.

You can focus more on internal activities while keeping an accurate and detailed overview of your finances and finances, which are important to each company, which is why these relationships are the most important to promote. the most important relationships you can maintain. This type consists of agreements between hardware and software manufacturers or software and software vendors. Take the example of Von Oyo Rooms. It works with different hotels and guest rooms to offer an affordable stay. Hotels and guesthouses have much to gain from this risk, as they get authenticity by connecting to a well-known brand, gain credibility, increase their chances of winning customers and so on, while Oyo expands its database to be more user-friendly. If you can perform each function in-house, preserve quality and make a profit, then your company can`t get much out of a strategic partnership contract. But there is almost always the possibility of reducing the cost column or increasing the end result in each store, and that`s where strategic partners are useful. If there is a chance for your business to improve, there is a good chance that there is a partner who can help you. A popular (and extremely valuable) alliance is the strategic partnership of the supply chain.

One of the most obvious places to see strategic in-action procurement partnerships is the film industry. If you`ve ever noticed that most films list different companies strangely named before the start of the film, it`s because movies are usually made using a supply-chain method. A relatively small production house will provide rotation and post-production, and a larger studio will finance, market and distribute the film. Think of J.J. Abrams` Bad Robot and Paramount Pictures, who maintain such a partnership agreement. Before diving into a partnership, expand the other party and carefully assess the benefits and risks of reaching the agreement. If you can achieve your profit goals and customer expectations through partnership, then this is the right call for your business. Strategic partnerships for integration are very common in the digital age, as it is always important that different applications collaborate or, at the very least, communicate with each other.