You need to work with a vendor to complete a project. How can you build a strong, lasting relationship?

1. Respect their timelines and decision 2. Prioritize collaboration over providing direct instruction 3. Trust their expertise and be open to experimenting

Conduct Regular Reviews Be Flexible and Adaptable Address Issues Promptly Build Personal Connections Encourage Collaboration Create a Contract with Clear Terms

Study the project requirements, look for the client's approved vendor list, approach them appropriately. The sequence of approaching the right source shall be find direct manufacturer, if not, find the authorized partner/distributor/dealer, if not, find the reliable trader. However, choosing the direct source is always cost saving!

Communication and transparency are the keys when working with vendors. During and after the project, we should appreciate vendor's contributions.

To build a strong, lasting relationship with a vendor one should keep below points in mind- ??Clearly communicate project expectations and requirements. ??Establish open and transparent communication channels. ??Foster mutual trust and respect by honoring commitments and deadlines. ?Provide constructive feedback and address issues promptly and professionally. ??Seek opportunities for collaboration and mutual growth. ??Recognize and appreciate the vendor's contributions to the project. ??Maintain regular contact and nurture the relationship beyond immediate project needs.

As a vendor, the best business relationships I have are where people are straight forward and open about what they want. They get the best from and my team because they respect our time and capabilities. We do the same back.

Clearly define project expectations, timelines, deliverables, and quality standards upfront. Make sure both parties have a shared understanding of the project scope and objectives to avoid misunderstandings later on.

Open and transparent communication is essential for building trust and collaboration. Establish clear communication channels, such as regular meetings, emails, and phone calls, to keep the lines of communication open throughout the project.

Foster trust and credibility by demonstrating reliability, integrity, and professionalism in your interactions with the vendor. Be honest and transparent in your communications, and follow through on your commitments and promises.

Periodically review the relationship with the vendor to assess performance, identify areas for improvement, and discuss opportunities for collaboration. Use these reviews as an opportunity to strengthen the relationship and ensure alignment between both parties' goals and objectives.

Offer constructive feedback and recognition to the vendor throughout the project. Acknowledge their contributions and achievements, and provide feedback on areas where improvements can be made in a constructive and respectful manner.

The relationship between vendor and customer is all about communication with give and take on both sides. Banking good will for when a favor is needed is the best way to build the relationship. For example, if the vendor asks to delay a shipment by a week and it does not affect production, then allow the shift in date. Next time you need a delivery date moved up, remind the vendor of your flexibility when the vendor needed to move their delivery date out. Flexibility on both sides, constant communication, and working together to make sure both companies are successful, are excellent ways to strengthen the relationship.

View your relationship with the vendor as a long-term partnership rather than a one-off transaction. Look for opportunities to collaborate on future projects and explore ways to add value to each other's businesses over time.

A successful vendor is paid well on time as per the agreed payment term.Failure to do so increases business risk.Lets respect our vendors ,partner with them for creativity and innovations. Monitor supplier performance and identify gaps and encourage corrective actions.

If you want the best from your vendor, be open about your wider challenges, show willingness to explore a deeper relationship & open the door to other colleagues that your vendor might want to meet. Every company I've ever worked for genuinely wanted to increase the value they added for their clients in mutually beneficial ways. When they had a customer that let them explore solutions beyond the original scope, they added significant value and sometimes delivered ground breaking innovations. They also all had customers that restricted the Account Manager to talk to one person about the one contracted service/project. This makes it less likely that the vendor's senior management will perceive an upside to investing in the relationship.