What approach does ITIL suggest for managing external suppliers?

Establishing partnerships that foster collaboration and align with the organization's value creation is a key approach suggested by ITIL for managing external suppliers. This approach emphasizes the importance of building a strategic relationship with suppliers rather than treating them merely as vendors. By fostering collaboration, organizations can ensure that suppliers understand their goals and objectives, which allows for better alignment of services and outcomes that contribute to overall value creation.

Creating these partnerships often leads to improved communication and trust, enabling both the organization and the supplier to work towards mutual benefits. This collaborative environment allows for more agile responses to changes in demand or market conditions, which is essential for staying competitive. Furthermore, when suppliers are viewed as partners, there's a greater emphasis on shared responsibility, innovation, and long-term commitment, which collectively enhances service delivery.

In contrast, the other approaches, such as solely outsourcing to the lowest bidder, limiting interactions to contract negotiation, or disregarding performance evaluations, can undermine service quality and inhibit the potential for effective value co-creation. These alternatives tend to focus on short-term cost savings rather than fostering a sustainable partnership that aligns with strategic objectives.