Vendor Relationship

Vendor Relationships…They’re More Important Than You Think

Posted by Stacey Papp

It’s only natural that businesses of all shapes and sizes prioritize one relationship above all others – the one they have with their customers. After all, customers are the bread and butter of any solid, thriving company. While that relationship is mission critical, another one comes to mind that can’t be compromised…the partnership you have with your vendors.

The strength of your vendor relationships can have a huge bearing on the success of your company as well as the satisfaction levels of your customers. Give extra care to the morale you build with your vendors – and check out these three great ways to maintain a strong bond with those that impact your business.

1. Communicate…Often
As with any business relationship, it is important to communicate your goals and objectives at the beginning of your time together – this absolutely holds true with vendors. Doing so helps everyone be on the same page and if you succeed, they succeed. Often, you may be required to work closely with your vendors to train them about your business. While this can be seen as an added cost your business expenses, it can go a long way to making sure everyone’s in step together and requirements are met successfully. Spend that money now and reap the benefits in the long term.

2. Avoid the Blame Game
When working with folks outside of your company, things can get a bit sticky…they don’t have the same everyday info your employees do that leads to an overall understanding of your business. Often, vendors don’t know the ins and outs of your office, processes and goals – and that’s OK. Should the time come when a mistake is made that may affect your customers, it is important to pause and take a step back. To avoid pointing fingers or jumping to conclusions, schedule some time to sit down with your vendor, understand the situation and come up with a mutually agreed upon strategy to remedy the situation. Remember we are all human – we make mistakes.

3. Stay Loyal
Loyalty goes a long way when it comes to vendor relationships. Stay loyal to your vendors and they will likely return the favor going the extra mile to help you and your customers. Be sure to show your appreciation for their efforts and dedication to creating an open, collaborative and understating…it may pay off dividends in the future.

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