MGT 496 Week 4 Discussion 2 - Third Party Supplier Relationship Management (3 P.L. S.M.S.)

Read the Forbes article, “Risky Business, High Payoffs.” Based on the content presented in the article, what is the value to the company and the supplier in developing and implementing a Third Party Supplier Relationship Management System (3 P.L.S.M.S.)? How can such a system provide greater efficiency? In 200-250 words, describe the value to the organization. Respond to at least two of your classmates’ posts.