Why some companies enjoy better benefits from their suppliers?
No matter how large or small your business is, maintaining a positive relationship with your suppliers goes a long way. It’s not surprising that even some large MNC suffer during crisis due to inability to leverage their supply chain partners. The key advantage to a strong & healthy supplier relationship is that you gain better value for your business. The better you know your suppliers the better they know you, the more likely you are to benefit from dedicated service, preferential pricing & special terms. As much as you engage your staff, positive engagement with your suppliers too is key. When your supplier find themselves used for only short them gains or to fulfil your procurement policy toward bidding processes, you would potentially loose them from your willing supplier network. The suppliers network is equally small, thus they do operate in consortiums that may work against your business. The most important part of positive supplier management is to see them as your partner & not your provider. Having a win-win negotiation & fulfilling contracts without jeopardising each other’s business is vital. Be a valued customer & personalise the relationship, it’s not a complicated process. To learn more about Supply Chain, Positive Supplier and Vendor Management, email your inquiries to: firstname.lastname@example.org #FiringUpPeople™ #TrainingProvider #RemoteLearning #VendorMgt