“Growing Together” is what vendors would like to hear from any of their business partner or customers.

A satisfied vendor is the one who would always standby you and your business in critical situation and considers your success as their success.

Strong backbone makes a body posture look strong and stable. Vendors are the backbone of any business. Vendors are integral part of business and they play a very important role in overall supply chain.

Its quire essential to know how to keep your vendors satisfied –

- - Find out what make them happy – which parameters
  - Understand the current issues faced by them
  - Ask them where you can do better
  - Measure perceptual image of your company
  - Compare your company’s performance with other companies

Factors that would influence vendor- customer relationship –

- - Fair commercial policies
  - Integrity in business dealings
  - Ethical practices
  - Supportive leadership
  - Clarity of communication
  - Understanding capabilities of the vendors while placing an order
  - Assurance of the regularity of the business
  - Timely payment
  - Support and co-operation as and when needed
  - Technological advancement – make vendors upgraded with latest technology to strengthen the overall business process
  - Loyalty program – listen to your vendors and rewarding the best performers
  - Relationship & trust with vendors
  - Professional approach in dealing with vendors

Key questions to know –

- - Are vendor’s needs and expectations being met by the organization’s products and/or services?
  - Do vendors believe the organization’s claims about current and projected organizational performance?
  - Do vendors believe that organizational performance can be sustainable?
  - Given their relationship to the organization, what suggestions do vendors have for improvement?
  - How do they contribute new product development and understanding customers’ needs?

So if you want your vendors to believe you saying – “Growing Together”, just Stop Quoting and Start Doing!!!

We will help you make this happen! Contact us to know further details