In today’s economy, resources are limited – and that includes the shrinking pool of elite suppliers who can make or break your organization’s brand and product standing. More than ever, businesses must work to earn their spot on a short list of preferred customers to the best and brightest in the market. With the right partnerships, your organization stands to learn, grow, and evolve into your next big opportunity.
This whitepaper explores the following 3 tactics that are critical to a successful supplier partnership:
Focus on Relationships
Openly sharing information with suppliers will not only help you pivot from a vendor to partner relationship, but also encourage collaboration, innovation, and productivity.
Plan to Grow
Invest in suppliers the same way you would your internal employees. Understanding what motivates, incentivizes, and drives suppliers will allow you to maximize on their potential and jointly grow your partnership.
Invest in Tools & Technology
It’s hard to fix problems you can’t easily see or measure. The full potential of supplier programs cannot be fully realized without the help of software tools to measure and track their success.
We hope this resource provides you with some valuable insights.