How to Improve Supplier Relationships? Here Are Our Tips

Your business success is defined by relationships. Not just with customers – it also largely depends on effective supplier relationship management. In this article you will find tips on how to improve them.

Wholesalers, distributors, manufacturers, dealers and importers. They are all your suppliers. And the better the relationship you have with them, the more your business develops, because they can have a big impact on any process of your business. Unreliable suppliers can cause you problems. On the contrary, reliable ones can make your whole business grow.

How to Improve Your Relationship with Suppliers?

1. Communicate Openly and Regularly

Communication is the key to the success of any relationship. Even the business one. Make clear what the roles and responsibilities of both parties are. Share your business goals with your suppliers and ask if they can help you meet them. When a problem arises, discuss and seek a joint solution. Provide feedback to the supplier, but remember that mutual understanding, open and honest communication is integral.

2. Be Proactive 

Always try to address challenges, concerns and ideas upfront. Be proactive in providing documents such as insurance certificates, company information and order numbers. 

3. Treat Your Suppliers as Equal Partners 

Start looking at them as partners, not just suppliers, and you'll see your relationship with them strengthen. Don't hide anything from them. Let them know about your new product or service you want to launch. Simply, let them know about all your business processes. They may be able to give you advice or help.

4. Don't Neglect Payments

Just as you expect your suppliers to deliver products on time, it's important that you pay them on time. It is also important that you are a reliable customer who pays them promptly. If you happen to be unable to make a payment for some reason, let them know, including information on when they can expect the payment. 

5. Be Loyal

We understand that if a better offer comes along, you might be tempted, but evaluate other benefits such as money and a cheaper supplier. If you are happy with your suppliers, don't change them. You will see they will reward you.

6. Recommend Their Services to Others

The goal of any business is to grow and therefore earn more. Help your suppliers get more leads by recommending their services further. For example, positive feedback on social media will definitely help them and it costs you nothing. Tag them in your posts, for example. Next time they may recommend you in turn. 

With great supplier relationships, you can reduce availability issues, create a stronger relationship with your suppliers and therefore improve your services. So, how are your supplier relationships?

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