Vendor feedback is a valuable source of information that can help you improve your products, services, and processes. But how do you get your vendors to share their honest opinions and suggestions with you? Here are some best practices to encourage vendor feedback and make the most of it.
The first step to getting vendor feedback is to establish a positive and respectful relationship with your vendors. Show them that you value their expertise, experience, and input. Communicate clearly and frequently, and listen to their concerns and needs. Acknowledge their contributions and achievements, and provide constructive and timely feedback on their performance. By building trust and rapport, you can create a culture of openness and collaboration that fosters feedback.
One way to acknowledge the vendor's contribution and achievement is recognizing them at events organised specifically for it. Recognition should not be in terms of best performance or best of something, instead all the suppliers performing well should be recognized. This eliminates the sense of competition and inspires them to maintain consistent performance. Such recognition platforms also offers opportunity to collect relevant feedback from suppliers.
Align with your vendor , share the communication on each step on regular intervals; so communication ; appreciate your vendor and team on achievements, milestones invite them for meetings; share appreciation across everyone; be transparent in providing the feedback; evaluation of vendor services specific points ; invite them for ideas and automation and making the vendor management more effective ;rewarding the vendor for ideation and whoever aligns with new processes and guidelines
The second step to getting vendor feedback is to ask the right questions. Don't just ask for general feedback or satisfaction ratings. Instead, focus on specific and relevant aspects of your collaboration, such as quality, delivery, innovation, or problem-solving. Use open-ended questions that invite detailed and nuanced responses, such as "How can we improve our communication?" or "What are the main challenges you face in working with us?" Avoid leading or biased questions that may influence or limit the answers, such as "Don't you think our product is the best in the market?" or "How much do you like our new payment system?"
The third step to getting vendor feedback is to provide multiple and convenient channels for your vendors to share their feedback. Don't rely on one method or platform, such as email or surveys. Instead, offer a variety of options, such as phone calls, meetings, online forums, or social media. Make sure that the channels are easy to access and use, and that they suit the preferences and habits of your vendors. For example, some vendors may prefer to give feedback verbally, while others may prefer to write it down. Some vendors may want to give feedback immediately, while others may need more time to reflect.
The fourth step to getting vendor feedback is to respond and act on the feedback you receive. Don't ignore or dismiss the feedback, or let it sit in your inbox or database. Instead, acknowledge and appreciate the feedback, and show that you are taking it seriously. Follow up with your vendors to clarify or discuss the feedback, and ask for their suggestions or ideas on how to implement it. Share the feedback with your team and stakeholders, and use it to inform your decisions and actions. Show your vendors the results and impact of their feedback, and how it has improved your collaboration.
The fifth step to getting vendor feedback is to reward and incentivize the feedback. Don't take the feedback for granted, or expect your vendors to give it for free. Instead, show your gratitude and recognition for the feedback, and offer some incentives or benefits for sharing it. For example, you can send a thank-you note or gift, or offer a discount or bonus. You can also create a feedback program or system that rewards your vendors for giving regular and quality feedback, such as points, badges, or certificates. By rewarding and incentivizing feedback, you can motivate your vendors to share more feedback and increase their loyalty and engagement.
The sixth and final step to getting vendor feedback is to learn and improve from the feedback. Don't treat the feedback as a one-time event, or a checkbox to tick. Instead, treat it as a continuous and ongoing process, and a source of learning and improvement. Analyze and evaluate the feedback, and identify the strengths, weaknesses, opportunities, and threats of your collaboration. Use the feedback to set goals and action plans, and to measure and monitor your progress and performance. Seek feedback regularly and consistently, and adapt and adjust your collaboration accordingly. By learning and improving from feedback, you can enhance your vendor relations and achieve better outcomes.