Having a strong relationship with suppliers is one of the best things that any company can do. With all of the changes going on in the transportation industry, suppliers need to have a vested interest in the success of your business. Over time, a strong relationship with suppliers will improve deliveries and lower costs as well. Here are some tips on how to improve supplier relations overall.
One of the most important aspects of your relationship with suppliers is communication. It is always a good idea to touch base with your suppliers on a regular basis. Not only does this give them information on your business and strategy, but you learn a lot about the industry overall as well. The more communication you have back and forth, the better the mutual understanding is between the two parties.
Taking your supplier relationship to the next level involves incentives in your business. A great starting point for this is to provide additional business incentives if your suppliers hit certain metrics. For example, if their on-time percentage is above a certain threshold, additional business gets rewarded. This is just one example of many options in this area. You want the suppliers working hard to add value to your organization. Providing incentives gives them an opportunity to improve their business during this process.
Any business benefits from strong supplier relationships. Now is the time to start investing in this area. We have a track record of success helping our customers improve relationships with suppliers. Get in touch with us today to see how we will help.