Report outlining the major stages & variables of Business Relationship Literature review

Report outlining the major stages & variables of Business Relationship development (BRD) - Literature review ExampleAny presidency specialising in the production of a particular goods has a number of supplier who supplies raw materials and equipments to the company. Thus, stages for widening supplier relationships are the focus of the current study. This report gives insights into the demand steps and ideas required in attaining an effective add on chain counselling strategy in the concerned DIY furniture company.The concept of business relationship management deals with linking the organization with various stakeholders in order to fulfil business requirements as efficiently as possible (Krause et al. 2007). In order to develop a spic-and-span supplier relationship, organizations like DIY furniture provider, can implement the supplier relationship model. The Supplier Relationship Model (SRM) consists of planning and maintaining a constructive relationship with the suppliers who supply materials and goods to the business (Hakansson, 1982). SRM is a part of supply chain management that provides major focus on developing and nourishing a strong relationship with the organisational suppliers. As per the model, when a business communicates with its suppliers, it needs to manage its entire supply chain in an efficient manner. Buying SRM software is a good plectron to start. Apart from that, there are four other stages that can be taken into account to build a good partnership with the suppliers and increase an general organizational performance.In order to develop a good supplier relationship, business organizer can purchase Supply Chain Management software program (SCMS) that contains features of SRM or apps (Wilson, 1995). This type of software includes invaluable features to perform a task of building a good relationship, such as deifying and accommodating new suppliers, supervise suppliers performance, providing all supplierss updated business profile e tc. This software helps to keep