Another dimension of managing the partnership however

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are some basic infrastructure of creating and managing partnership in the right way. Another dimension of managing the partnership, however, is to understand the range of outcomes possible in partnership relations to evaluate the extent of success or probably failure. The traditional approaches for measuring the performance of any relationship focus mainly on easily identifiable bottom-line cost savings for each party, while the performance of partnership is much wider than just bottom-line cost saving; it may include improvements in operational effectiveness, stability, innovation, technological development, creativity development, and so forth. No need to say that there are financial factors as well, such as long-term profitability, prices, ROI, purchasing volume, and running cost. Put a gauge on each non-financial factor, in its turn, calls for more detailed research that is recommended to go on in line with this study. Development and application of these measurement tools to assess the extent of success in partnership will be too vital after the first loop of PDCA cycle in creation of supplier association.
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Strategic Partnership within Supply Chain 40 8 REFERENCES 1. Dickson, G., (1966) “An analysis of vendor selection systems and decisions”, Journal of Purchasing , Vol. 2, No. 1, pp. 5-17. 2. Dimancescu, D., (1992) “The seamless enterprise: making cross-functional management work”, New York: Harpercollins. 3. Ellram, L., M., (1990) “The supplier selection decision in strategic partnerships”, Journal of Purchasing and Material Management , Vol. 26, No. 3, pp. 8-14. 4. Ellram, L. M., (1991) “Key success factors and barriers in international purchasing partnerships”, Journal of Management Decision , Vol.29, No.7, pp.38- 44. 5. Ellram, L., Cooper, M., (1993) “Characteristics of supply chain management and the implications for purchasing and logistics strategy”, International Journal of Logistics Management , Vol. 4, No. 2, PP. 1-10. 6. Hanfield, R., B., (1998) “Introduction to Supply Chain Management”, Prentice Hall . 7. Hines, P., (1994) “Creating world class suppliers: Unlocking mutual competitive advantage”, Financial Times Management Series . 8. Hung, G., Q., Mak, K., L., Humphreys, P., K., (2003) “A new model of the customer-supplier partnership in new product development”, Journal of Materials Processing Technology , Vol. 138, pp. 301-3015. 9. Lamming, R., (1993) “Beyond partnership: strategies for innovation and lean supply”, Printice Hall International Limited . 10. Macualay, S., (1963) “Non-contractual relations in business: a preliminary study”, American Sociological Review , Vol. 28, No. 1, pp. 55-66. 11. Mandal, A., Dashmukh, S., (1994) “Vendor selection using interpretive structural modeling”, International Journal of Operations and Production Management , Vol. 14, No. 6, pp. 52-59. 12. Mentzer, J., T., Min, S., Zacharia, Z. G., (2000) ”The nature of interfirm partnering in supply chain management”, Journal of Retailing , Vol. 76, No. 4, pp.
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