Maintaining positive relationships is key in any business endeavor.
Though in-person events are starting back up again, some aspects of the event industry have changed permanently. One example is the shift to online supplier relationships. This was a relatively new phenomenon before the pandemic hit, but now that the Event Brew team has experienced it, they refuse to go back to the old way of doing things.
Any e-commerce manager should aim to improve their company’s supplier relationships as this brings many opportunities, such as discounted prices and better stock availability. By having strong supplier relationships, e-commerce businesses can realize many potential opportunities.
Below are five recommendations to assist you in creating enduring partnerships with your vendors.
You’re not the Only Customer
In today’s highly competitive e-commerce market, many other mid-sized or small retailers provide the same products from the same suppliers. In other words, your most important business contacts are also important for your competitors.
Therefore, your contact at the supplier may be busy at times, as they also have other tasks to take care of. Do not overreact to such delays and show patience. Be sure that your patience will pay off because all long-lasting relationships are built on patience and trust.
Pay on time
Paying on time will have a significant impact on your relationship with suppliers. Late payments can be detrimental to your reputation, even among your friends.
It is important to develop and maintain a good relationship with your suppliers, as this will ensure that you are able to continue purchasing the supplies you need for your business. Paying on time is one way to show that you value these online supplier relationships.
Deal with problems smoothly
Like any business, e-commerce has its own hardships.
B2B relationships are underpinned by professionalism, but it’s important to remember that at their core, they are human-to-human relationships – and humans make mistakes.
If you find yourself in a difficult situation, it is best not to place the blame on your suppliers. Instead, work together to solve the problem at hand.
It is imperative that you take care to avoid mistakes, as any error on your part could have serious consequences.
Train them further
As soon as you establish yourself as a dependable retailer in the eyes of your suppliers, don’t shy away from going the extra mile. Companies see value in clients who are interested in continual improvement, even when they are satisfied with current products and services. There’s no exception to that e-commerce supplier relationships.
Building a good rapport with your suppliers can offer many benefits. Offering improvements such as automated notifications or new payment methods that’ll attract more customers can strengthen your relationship. Every supplier wants to improve their business, and helping out will also help yourself.
Become friends
As we mentioned before, business-to-business is actually human-to-human, and your suppliers – let’s call them friends from now on – would be more willing to help you if they consider you a friend. You must be sincere in your actions. If there is a mistake or emergency, you can adjust your rules accordingly and extend trust to them as well.
Wrapping up e-commerce supplier relationships
Suppliers are people too. In order to establish and foster a sustainable relationship, it is necessary to establish trust. It would seem that you’re looking for ways to communicate better with your suppliers. You can accomplish this by (a) dealing with problems swiftly, being understanding, paying promptly, and making an effort to improve their business.
Your ability to make vendors happy will greatly increase your bottom line. Remembering the golden rule – treating others how you would want to be treated – is half of the fight. From there, be knowledgeable and prepared. Knowing what it takes to run your business will make communicating with suppliers more manageable and measurable. With these helpful tips, getting along with your supplier will become a lot easier for you in no time at all.
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