Collaborative post – may contain affiliate links
The relationship between a supplier and a business is incredibly important. It’s a mutually beneficial partnership that helps both companies prosper; without a supplier, businesses can’t operate efficiently and without a successful business, suppliers have no demand. It’s a relationship that can define a business’s success, but also one that can be used to your advantage if you’re willing to nurture a positive connection to your suppliers.
In this post, we’re going to take a look at the advantages of a positive relationship with your suppliers and how it can help you run a successful business.
Minimizing drastic price differences and product quality
Depending on what you’re actually purchasing from the supplier, you shouldn’t be surprised to see prices and product quality fluctuating wildly. There are a couple of reasons for this; firstly, the raw materials required to create the products your suppliers provide will always change in price. Another reason could be the current market conditions or even political issues that are affecting the cost of importing and exporting goods.
Product quality is also a huge concern when it comes to price fluctuations. For instance, if you’re looking for concrete for contracting purposes, then it’s important to pick and stick to a company such as ridgeconcrete.co.uk that can guarantee superior slabs and high-quality products every time. If you constantly shop around for better deals then there’s no company loyalty which means you’re going to receive an average service every time. With a good relationship, you can learn more about a product’s quality, why prices are fluctuating and perhaps even receive fixed prices for being a loyal customer.
Setting up a deal with a supplier usually involves a slight setup cost. This is because the logistics of a large delivery and producing the amount of stock you need can take some time, especially if that stock is also being bought by other similar businesses. By cooperating with your suppliers in a positive and friendly way, you’re creating a mutually beneficial relationship that helps to ensure that the supplier gets a constant stream of demand.
By creating this demand, you make it easier for the supplier to predict their profits and stay afloat. As a token of their appreciation, suppliers will typically offer discounts to businesses that purchase in bulk and have proven to be reliable customers. The fewer issues you encounter, the more likely your supplier will give you future discounts. It will also help to reduce the amount of time it takes to solve logistics issues and they are more likely to reimburse you with a generous refund if something goes wrong.
As explained in this article at growingforward.net, customer service can be a big problem when it comes to profit issues. Most suppliers enjoy having cooperative relationships with customers because it helps them offer improved customer service. This, in turn, means that your customer experience will be improved.
Issues will be resolved faster, you might have a contact that you can phone for last-minute deliveries and rush orders, and they may even recommend you as a trustworthy business to companies that are seeking your services or products.