Suppliers, beyond having a commercial relationship with an organization, are an essential part of your team. A supplier that is committed to a customer triggers competitive advantages, ranging 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 long-lasting and trusting relationships with suppliers.
How to make your suppliers fall in love with you?
Fluid 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 that they have the opportunity to rectify and provide a solution. Constructive comments are always welcome.
2. Provides alternatives for the payment of invoices.
The cash flow is essential for the financial health of any company. Therefore, providing timely payment of invoices and offering options for the advance payment of these, is an opportunity to build their loyalty. There are alternatives such as Digital Factoring, Prompt Payment Discounting or Confirming to provide relief to your cash flow.
3. Accompanies, trains and recognizes
Since suppliers are key allies of your business - it is not enough to have a 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 supplier recognition programs, whether for good performance, excellent service, innovation in solutions or the incorporation of new technologies. This is a way of recognizing their work and will make suppliers feel valued.
4. Provides business recommendations
Word of mouth 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 the 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 customers.
If the relationship between customers and suppliers works properly, a long-term strategic alliance can be built that makes a difference in the organizations' results.
