No matter what product or service you sell, you rely on your suppliers to keep your business alive. Maybe your suppliers provide you with the materials you need to craft your product. Perhaps you outsource your marketing to a marketing supplier, or maybe you have a supplier who makes your packaging for you. Regardless of how many suppliers you utilize, it’s vital to keep your relationships secure to ensure the consistent and smooth operation of your business.
Here are five ways to ensure you maintain a quality relationship with all your suppliers.
- Pick the best suppliers from the get-go
When you’re first choosing suppliers for your business, ensure to do plenty of research, ask questions, and be strategic with your choices to find a supplier that you can trust from the beginning. Also, consider their prices. Are they reasonably priced, or are they too expensive? For example, if you run a care home, choose a fully stocked supplier like Medical Supermarket that can provide you with everything you need at a reasonable price. By selecting the best suppliers off the bat, you can build strong relationships with them instead of finding new suppliers every year.
- Respect your suppliers
You expect a high level of service and a low price point from your supplier, but you also need to be a good client. Your relationship with your suppliers goes both ways. They provide you with excellent service and products, and you show them the respect they deserve. How do you do this? Always pay your suppliers on time, and don’t try to undervalue them by making ridiculous requests for discounts or products.
- Maintain consistent communication
Always keep open communication with your suppliers. Ensure they can reach you whenever there’s an issue and that all conversations are diplomatic. Offer feedback if you are concerned about a product or service, but also take on any feedback they may offer. Establishing a professional and open flow of conversation will help your relationship grow and thrive.
- Referrals
If you are happy with your supplier, send some more business their way. You know they offer an excellent service, so you will be helping those you refer to them. On top of that, you will create goodwill between your business and your suppliers, which will drastically improve your relationship. It shows your suppliers that you value them, and they will appreciate you in return. It may even lead to your supplier, referring customers to your product or service.
- Stick by your suppliers
If you’ve found suppliers that you like and who offer a quality product or service, stick by them. The longer you work with a supplier, the stronger your relationship will become. Beyond that, the supplier will understand your specific business needs better than anyone else, meaning they are more straightforward to work with. If you jump ship and go to a different supplier, you will have to start building that relationship from scratch. If you find another supplier offering a lower rate, try speaking to your current supplier to see if you can find a happy medium.
