Collaboration with suppliers involves working closely with them to improve the quality and efficiency of products and services. This partnership can lead to better communication, shared goals, and innovative solutions that benefit both parties. By engaging suppliers in the decision-making process, companies can enhance their supply chain management and reduce costs. Effective collaboration often includes regular meetings, joint planning sessions, and feedback loops. This approach helps build trust and fosters a sense of teamwork. Additionally, leveraging technology, such as supply chain management software, can streamline processes and improve data sharing between companies and their suppliers.