The key to a successful business is very often based on how well a business interacts with its suppliers. Whether your business purchases products from wholesalers or it depends on suppliers for various products that can help the business grow, having a good relationship with such an important business partner is mandatory.
When you have a good collaboration with your suppliers, you can get discounts, favorable prices and better payment terms. Also, if you have a problem with one of the products sent by the manufacturer, a good supplier relationship will speed up the process of solving the problem or it will guarantee that the product is exactly what you had in mind when you ordered it. For example, if your business has specific needs for castings, a good relationship with a casting supplier will ensure that the production of the castings will meet all your requirements.
In order to strength your connections with your business’ suppliers, you have to consider a few things:
Always Pay On Time
This may be common sense to you, but not all businesses pay their suppliers on time and this can obviously damage the long-term collaboration. If the suppliers are paid on time, they will make sure all your requirements are met and there will be no delays for your orders. This will help your business too after all, you want your order to arrive on time and the products to be exactly how you imagined them.
Don’t Set Unrealistic Deadlines
There are times when suppliers do not have many orders and they can take care of yours faster. However, it is best to set realistic deadlines and to take into account that you are not your supplier’s only client. Patience is truly a virtue, especially when you are a retailer or a business that depends on the products delivered by the manufacturer. Also, having realistic deadlines and goals will allow you to check your order thoroughly, give feedback and request modifications if your requirements aren’t met.
If you have specific needs, the best way to make sure your supplier will deliver exactly what you need is to give detailed instructions. Deliver the documentation for your products in the format preferred by the supplier not the format preferred by you. It’s hard to process requests that come in various forms so asking what the representative prefers will only make the process easier and the results better. Also, if you feel you have to add more details, communicate with the supplier’s representative to make sure they can provide what you need.
Forgive And Forget
Any relationship has its ups and downs and a business relationship is no exception. Sometimes your supplier will make mistakes but being patient and not blaming the representative for the problem will give you many benefits. If you make a mistake, your supplier will also be more willing to help you fix it. For example, you can order too many products and your supplier can buy back the extra products. Communication is key in these situations and it allows you to build strong partnerships that is beneficial for both your business and the supplier’s business.