Thursday 10 July 2014

Cultivating Relationship with your Vendors

Authored by Usman Ghani

Vendors are very critical and important to your business they can generate business and can be ideal for your company if you have a strong relationship build with them,here we have some tips for making strong relationship with your vendors.

  • Recognize how your business can be improved and can be reached to peak through suppliers, there positive and negative supplies can effect the good will of your company and can also change the returns of the organization’s.
  • Suppliers with ethical values and there best practices that matches your business requirements can be ideal for your company goals and that relationship will lead to both of the parties aiming that both have clear understanding of what to gain from it and what to bring in the partnership is very important.
  • Strong relationship with your vendors is the backbone of supply-chain.companies relying on suppliers to reduces costs ,improve the qualities and to give your company competitive advantage.
  • Cultivating relationship should be constant and long lasting with your vendors for better results in all the fields, your all needs should be balanced.
  • Pay them on time this will build trust and confidence of vendors,never change your policy after awarding, do not ask for unrealistic demands, if you cant pay him on time call him/her and communicate every matter and make it clear your position, that what is the reason behind it.
  • Always communicate with your vendors keep informing them changes in your company and products of company make them as family member of your company.
  • Giving respect to your vendors inviting them in events,meetings can also build a strong relationship with them.
Always do not rely on one or two vendors company should have strong relationships with all the vendors, we need to understand the importance and dynamics of relationship with our suppliers which will lead to the beneficial of the company needs and desire’s.