Final answer:
Working well with suppliers is vital due to the need for speed in responding to customer demands, the high level of interdependence on suppliers for resources, and the costs associated with poor synchronization which can lead to delays and financial losses.
Step-by-step explanation:
One reason why it is essential to work well with suppliers is that businesses often have a high level of interdependency on their suppliers for materials, products, and services. The speed of response and the efficiency of the supply chain can be greatly improved with good relationships, leading to faster turnaround times and the ability to quickly meet customer demands. Additionally, the costs of poor synchronization between a business and its suppliers can lead to delays, quality issues, increased waste, and ultimately financial losses. Therefore, working well with suppliers is critical because it encapsulates the need for speed, ensures a high level of interdependence is managed effectively, and minimizes the costs of poor synchronization.