Just one of the factors affecting healthy supplier relationships

❓Did you know that one of the factors affecting successful supplier relationships is often the inability for companies to negotiate enough to achieve a win-win situation?

💡 Yep. That’s right. It occurs often when companies navigate through the procurement process for CAPEX equipment and the operational consumables and services that follow.

📋 You ask for a quote. Receive the quote. Maybe ask for a bit more off the price. And that’s typically the end. Especially, for transactional interactions.

🫸🏾 Push your suppliers a bit more until a mutual consensus is reached. And that consensus isn’t necessarily referring to just price. If your intent is to position the supplier in a strategic relationship, there are other agreements besides price that can be reached to lead to a suitable close. By doing so, that helps to strengthen the relationship, fosters a deeper connection built around trust and candidness, and sets the stage for future collaborations.

😊 When relationships reach that point, the engagement becomes a rewarding and fun experience. That may sound childish but during my account management days, that was such an enjoyable exchange.

We’ll probably speak more on this later, but this was a short tidbit and maybe a reminder for you.

If this is something you would like help with for your supplier relationships, visit our contact page and let us know. 📧