You must communicate, through your actions, that you wish to establish a professional precedent with a supplier from the start. Make sure everyone – your own staff, in particular – is on the same page as to the purpose, scope, and process of the business agreement with the supplier.
Set detailed standards that are measurable, attainable, and realistic. Share these expectations in a way that does not intimidate the vendor but energizes him to do his best for you. If the supplier is to conduct training, technical support, or maintenance as part of the deal, be sure to hold up your end of the bargain, as well. Make the appropriate time, personnel, and resources available and be accommodating so the technician can do their job.
Periodically, take time out to critically review the business relationship. Invite the sales representative and her manager in for a meeting with you and your key staff to discuss:
- Where are you now in terms of performance, profitability, and so on;
- Where you want to be this time next year;
- How they can best assist you in meeting your improvement goals;
- And how you will be measuring progress along the way.
Discuss your situation openly and candidly. Your vendors can be resourceful and creative when asked to be because they’ve been exposed to many other businesses that have faced similar challenges and found ways to overcome them. Tap into the knowledge of your suppliers. It will pay valuable dividends.
—Your Personal Business Trainer
