On Time Payment
The
first and very important tip for building vendor relationship is on time
payment. As many organizations have adopted eProcurement systems therefore
vendors work on thin margin. So daily cash flow is very important in this
scenario. A vendor even small one, that pays on time as per policies become
trusted business partner for organization.
No Blaming Tactics
Mistakes
are the nature of very business and we keep learning from our mistakes. Very
vendor make mistakes but if buyers will continue blaming the vendor, the
situation will get worst and at the end organization will suffer.
Need Realization
If
vendors are getting on time payment after smooth supplies without any complaint
then you can share your future requirement with them on the basis of trust and
worthy.
Clear Requirement Visibility
Communicate
your required items to vendor with proper specification and quantities which
will help vendors to manage accurate supplies as per requirement of
organizations.
Open
Communication Lines
This
is simple tip but perhaps the most important practice. Invite your suppliers to
your strategy meetings, let them tour your office, include them in business
events and parties, and share information about new products and personnel.
Likewise, you should be able to visit your supplier’s offices and know the ins
and outs of their business.
Effective
supplier relationship management is the best way to ensure optimal supplier
performance and help you run your small business more efficiently. Investing in
high-quality software is a start, but actively taking the above steps will
build even better relationships.
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