Explain the contemporary concepts of customer and supplier. How does the contemporary view of customers and suppliers differ from the more traditional view?
The contemporary concepts of customer and supplier are the concepts that are between the buyers and sellers. They are based on confidence, trust, credibility, and the fact that both parties can help each other. The buyer helps provide information hoping to get a continual supply of the product. The contemporary view differs from the traditional view because the buyers and suppliers are considered completely different entities. In contemporary view they are almost like a team, working together, and the mutual benefit helps this view continue to work. The buyers and sellers realized the better they treat each other, the better business both sides will receive through the benefits.