Suppliers, beyond having a business relationship with an organization, are an essential part of your team. A supplier that is committed to a customer triggers competitive advantages, which range from generating solutions to overcome challenges, optimizing supply chain times and even reacting quickly to crises or emergencies.

For this reason, it is important to build lasting and trusting relationships with suppliers.

How to make your suppliers fall in love with you?

1. Fluent and clear communication

What is not communicated, is not known. This principle applies to any relationship, even with suppliers. It is important to let them know the points that are working and the opportunities for improvement, this will enrich their work. If a good or service is excellent, tell them about it. If something is not working as expected, let them know so they have the opportunity to rectify and provide a solution. Constructive comments are always welcomed.

2. Provide alternatives for paying bills

Cash flow is essential for the financial health of any company. Therefore, providing timely payment of invoices and offering options for advance payments is an opportunity to build customer loyalty. There are alternatives such as Digital Factoring, Prompt Payment Discount or Confirming to provide relief to your cash flow.

3. Accompany, train and recognize

As they are the key allied suppliers of your business, – not only is it enough to have good communication – it is necessary to strengthen them so that your company is the one that benefits from these new skills. Having a supplier improvement plan within your company generates a win-win relationship that is sustainable over time.

Evaluate the possibility of incorporating recognition programs for suppliers, whether for good performance, excellent service, innovation in solutions or the incorporation of new technologies. This is a way to recognize their work and will make suppliers feel valued.

4. Provides business recommendations.

Voice to voice is a growth channel for many organizations. Therefore, if your suppliers have an excellent service or product and you know people who are looking for a proposal that fits what they offer, recommend them. Another way to do this process is to provide them with a testimonial or success story. Having a record of the experience and impact that a company has had from the implementation of a service or the acquisition of a good is the best letter of introduction that a supplier can have to future clients.

If the relationship between clients and suppliers works correctly, a long-term strategic alliance can be built that makes a difference in the results of organizations.