Relationship Management , this concept has captured each and every corner of corporate world whether it may be marketing, customer services, or operations. “Whenever you're in conflict with someone, there is one factor that can make the difference between damaging your relationship and deepening it.
That factor is attitude.”& hence attitude towards each other (buyer and supplier both) matters. The nature of the relationships between a firm, its customers and suppliers, has important business implications for all firms, irrespective of size. Adversarial relationships during the 1970s and 1980s. These relationships were short-term and price was the primary concern. The relationship between buyers and suppliers were prevalent in Western economies
To develop and subsequently maintain a positive supplier-buyer relationship, organizations should periodically address compliance, conduct, and strategic financing concerns with their business partners. To develop and subsequently maintain a positive supplier-buyer relationship, organizations should periodically address compliance, conduct, and strategic financing concerns with their business partners. Below are some steps to help establish mutually beneficial supplier/buyer relationships or improve upon your existing partnership
Conduct, Compliance and Financial Aspect are the critical areas of relationship. Critical part of the relationship revolves around the financial aspect. While the buyer is looking to get a fair (again, not always lowest) price, the supplier has to ensure he is covering costs and, of course, making a profit. It is not always in the buyer's interest to negotiate down to the very lowest price; the result can be less trust or loyalty from the vendor. Relationship extends to the payment terms.
Especially in retail, the payment terms are often very favorable to the suppliers. Today, suppliers for larger organizations are subject to more rigorous review than eve. Another aspect which is much simpler to implement is to understand the customers, scrutiny their requirements, knowing whether the concerned party with whom they are dealing aren’t restricted, because ignorant isn’t the law. For such a partnership to succeed, it is paramount there exists a mutual business understanding underscored with respect and a sincere wish for each party to prosper.
That factor is attitude.”& hence attitude towards each other (buyer and supplier both) matters. The nature of the relationships between a firm, its customers and suppliers, has important business implications for all firms, irrespective of size. Adversarial relationships during the 1970s and 1980s. These relationships were short-term and price was the primary concern. The relationship between buyers and suppliers were prevalent in Western economies
To develop and subsequently maintain a positive supplier-buyer relationship, organizations should periodically address compliance, conduct, and strategic financing concerns with their business partners. To develop and subsequently maintain a positive supplier-buyer relationship, organizations should periodically address compliance, conduct, and strategic financing concerns with their business partners. Below are some steps to help establish mutually beneficial supplier/buyer relationships or improve upon your existing partnership
Conduct, Compliance and Financial Aspect are the critical areas of relationship. Critical part of the relationship revolves around the financial aspect. While the buyer is looking to get a fair (again, not always lowest) price, the supplier has to ensure he is covering costs and, of course, making a profit. It is not always in the buyer's interest to negotiate down to the very lowest price; the result can be less trust or loyalty from the vendor. Relationship extends to the payment terms.
Especially in retail, the payment terms are often very favorable to the suppliers. Today, suppliers for larger organizations are subject to more rigorous review than eve. Another aspect which is much simpler to implement is to understand the customers, scrutiny their requirements, knowing whether the concerned party with whom they are dealing aren’t restricted, because ignorant isn’t the law. For such a partnership to succeed, it is paramount there exists a mutual business understanding underscored with respect and a sincere wish for each party to prosper.