We are told that because of the increasing challenges that shipowners, operators and managers face, relationships between buyers and suppliers will also have to evolve. Fundamentally, customers now require solutions. Where before a commoditised approach to conducting business (driven by price) has been the norm, suppliers need to work with their customers to deliver value that goes beyond the basic price of the product or service.

We are told that because of the increasing challenges that shipowners, operators and managers face, relationships between buyers and suppliers will also have to evolve. Fundamentally, customers now require solutions. Where before a commoditised approach to conducting business (driven by price) has been the norm, suppliers need to work with their customers to deliver value that goes beyond the basic price of the product or service.

To thrive – and in some cases survive – there is constant chatter that the new world order for shipping will be driven by the creation of ecosystems made up of a myriad of specialists and specific experts focused on maximising the value of the asset (the vessel); the whole being greater than the sum of its parts.

It is clear that there is a desire from some buyers to have more strategic relationships with their suppliers; placing more spend under contract, and as the ability to analyse and gain meaningful insights from data and intelligence improves, in conjunction with increased functionality of procurement systems, there will be a move to more strategic purchasing models. At the heart of this is ‘collaboration’ and building relationships with buyers based on partnership.

The core dimensions of an effective buyer/supplier relationship are trust, communication, team orientation, innovation, focus, and cultural compatibility. This works in the complete opposite parallel to a transactional relationship, where each party is more focused on minimising costs, time and resource.

Buyers and suppliers that want to develop these strategic models have therefore worked on how they can increase their levels of collaboration and how more sustainable relationships can be developed; identifying systems and processes that improve trust, knowledge sharing and communication; creating a fair and mutually beneficial cost structure and contract; and fostering a symbiotic working culture within the relationship – the principle being that, much like couples, some companies just aren’t meant to be together, no matter how well the skill sets match up.