For supplier development to succeed an entrepreneurial mindset is essential – both for understanding the small supplier, but also to cultivate the flexibility needed for innovation.
At ABSA, we are driven by one purpose - bringing your possibilities to life. It is with that purpose in mind that drives our approach to Supplier Development.
In a country where ‘business’ is often painted as self-serving, the ABSA Business Day Supplier Development Awards explores ways to change this narrative. The lessons learned from this exercise have largely debunked the prevailing sentiment that corporates and parastatals in SA don’t invest in tomorrow’s business leaders.
Transformation of a supply chain works when an attitude of supporting and uplifting others is deeply embedded in the company culture, and influences decisions in every aspect of the business, not just supplier development.
Supplier development is a crucial component of SA's economic growth and transformation. Done properly, it leads to sustainable business, genuine empowerment and positive benefits for stakeholders – but it remains a misunderstood and often confusing exercise.