How do you keep your partner and supplier relationships strategic and long-term?

1 Understand their goals and values

The first step to building a strong relationship with your partner or supplier is to understand their goals and values. What are they trying to achieve? How do they measure success? What are their core principles and ethics? By aligning your goals and values with theirs, you can create a shared vision and a mutual trust. You can also identify potential synergies and opportunities for collaboration and innovation.

2 Communicate regularly and effectively

Communication is key to any relationship, and partner and supplier relationships are no exception. You need to communicate regularly and effectively with your partner or supplier, not only to exchange information, but also to build rapport, resolve issues, and provide feedback. You should use multiple channels and formats, such as phone calls, emails, meetings, reports, and surveys, to suit different preferences and purposes. You should also be clear, respectful, and transparent in your communication, and avoid jargon, assumptions, and ambiguity.

3 Manage expectations and agreements

Another important aspect of partner and supplier relationships is to manage expectations and agreements. You need to set clear and realistic expectations and agreements with your partner or supplier, and document them in a formal contract or a service level agreement (SLA). You should also monitor and measure the performance and quality of your partner or supplier, and hold them accountable for delivering on their promises. You should also review and update your expectations and agreements periodically, and address any gaps or changes in a timely and constructive manner.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?