It’s Not A One-Sided Approach: Working With Suppliers To Generate Better Business

StrategyDriven Managing Your Business Article |Working with Suppliers|It’s Not A One-Sided Approach: Working With Suppliers To Generate Better BusinessEvery company has its crosses to bear. Usually, this is in relation to excessive expenses, whether you are concerned about the costs in the supply chain or you are not improving your bottom line, sometimes we have to look further outwards to ascertain better cost-cutting methods. Our supplier is a very notable example because it can be a very fraught relationship when we don’t do things our end or sometimes we end up relying on them for so much, but they don’t deliver. What can we do to ensure that we improve our relationship with any supplier so we can generate better business?

Do What You Can To Maintain A Strong Relationship

It is not a one-sided approach. Sometimes we need to remember the importance of doing what we can to maintain a good working relationship with our supplier. Sometimes we can be on first name terms with people. It all depends on the industry you work in because if there are companies that are operating on a mass scale, like PEAKHD that provides fluid for diesel engines and industrial equipment, they will have numerous other businesses to contend with. From your perspective, think about improving your communication and keep them in the loop when possible. Working with a supplier on a long-term basis is a beneficial practice. Having clear and consistent communication will result in a more organic relationship further down the line.

Using Technology To Manage The Relationship

As there are so many plates to spin (especially if you are working with numerous suppliers) it’s important to make sure that you have everything in order. Supplier management software can help you keep track of information about every supplier in one handy place. But we have to remember that technology can result in us being somewhat faceless with regards to the supplier relationship. Use the tools, but make sure that they are the support network that helps you and your suppliers.

Consider The Cultural Impacts Of Your Supplier

While the world is becoming more connected we can find ourselves dealing with suppliers further afield. Sometimes they’re on the other side of the country, but increasingly they are on the other side of the world. This means that we’ve got to think globally but also think about the cultural and language barriers that may present themselves. At the same time, we must remember that the documentation can vary from country to country. Having an adequate Service Level Agreement (SLA) that you have drafted can help to navigate any potential problems. You must also think about the differences in currency. And perhaps, most obviously, think about the differences in time zones.

Working with your suppliers to generate better business is almost as important as the relationship you have with your customers. When we choose the right supplier it can be a long-lasting relationship but this means that when we work with suppliers there are components we have got to consider to make life easier for them and us. It isn’t a one-sided approach.

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