In an economy where it is essential to minimize costs in every possible aspect of business to remain competitive, many traditional methods of conducting business operations have to be reevaluated and redesigned to obtain maximum efficiency. The introduction of supply chain management in the 1980's revolutionized the way suppliers, manufacturers and retailers dealt with each other in managing material flow. DiamlerChrysler, formerly Chrysler Corporation, pioneered this concept by mastering the relationship with their suppliers. &…showed first 75 words of 847 total…

…showed last 75 words of 847 total…the chain." DialmerChrysler and its suppliers must work together in finding areas for savings, instead of just reducing 5% from their bottom line. <Tab/>It is embarrassing for a company, holding a record for brilliance in supply chain management to give such a dictum. However, DialmerChrysler's reputation gives hope that the company will come out of this crisis in a manner which benefits both the suppliers and themselves in a collaborative fashion.