The buyer-supplier relation is very importance for the management. Value Chains, Outsourcing, and Procurement are the main important parts in the buyer-supplier relation. The relationships between the buyers and suppliers have been an increasing focus on the changes that have occurred during the last decades. In an era of rising global rivalry, there is a growing attention in managing long-term buyer-supplier contacts as the management of these relationships has payback for both parties (Burf, 2009). The buyer can reinforce their global competitiveness and protect the access to outside resources that the company wants.
The supplier can arrive at higher proceeds by maintaining long-term affairs. In general, the buyers and suppliers stress the significance of secure relationships, where it is potential to achieve profits in the form of lowered costs or enhanced profits. Here, Value Chains, Outsourcing, and Procurement are very much compact with the buyer-supplier relationship. The value chain is one of the main parts of this management where the entire series of activities produce and put up value at every step. The value chain thought takes apart functional activities from the inefficient activities. The company can get many advantages from this value creating activity. The entire value delivered by the company is the total of the value built up all throughout the company.