STRENGTHENING RELATIONSHIPS BETWEEN BUYERS AND SUPPLIERS

STRENGTHENING RELATIONSHIPS BETWEEN BUYERS AND SUPPLIERS

Daven Michaels

Daven Michaels

New York Times Bestselling Author, 30-year business veteran, and Executive Chairman of CurrentC Power.

There should be straightened relationship between the suppliers and buyers in view to making both parties benefiting from it. Several conferences are conducted around the globe, which brings together corporate bodies and their outsourcing personnel. There are some loopholes and advantages which were discovered as it is written below:

LOOPHOLES

a. Absence of Sales

The tone set in these gatherings is to make sure that the customers get a feel of how the company is strategically positioned to affecting well-promoted sales. This event is designed in such a way as for the company to listen to its customer’s responses. There are no actual sales that are achieved in such gatherings.

b. Little or no satisfactory response

During conversations, customers do come up with sensitive points, which need to be addressed by the company. However, contrary to expectations, the supplier merely listened and never gave any reason for the existence of deficiency.

ADVANTAGES

a. Openness during interactions

Normally, clients who have converged at these conferences are usually open-minded. They tend to discuss freely with their hosts. They have the sense that they are being listened to. And that the hosting party is willing to work with their recommendations in the future.

b. Existence of trust

The meeting between the supplier and the buyer is an expression of trust. It is not so easy a thing to build trust between parties. However, where there is trust, it helps to create an enabling environment for business to thrive in it.

It is pertinent to note that the building of trust is not left for large establishments only, it is meant for those firms who want to do well in the day-to-day operations of their venture.

There are three relevant measures to be adopted while trying to develop a relationship based on trust.

Module 1 – Establish a relationship

The building of a relationship should go beyond having mutual interactions. This is achieved through the auspices of sales representatives. These sales reps are indeed helpful and reliable and their distinct services are what differentiate suppliers. On their part, clients are also concerned about the well-being of their sales reps and this is deepened to a more intimate relationship.

Module 2- Establish a reliable feedback system

No one gets to know it all at all times. Therefore putting in place and workable efficient and reliable feedback system is highly recommendable.

It encourages growth, because of the existence of open dialogue, trust, co-operations and help. If there has been a time trust between clients and their suppliers, If there has been a time of trust between clients and their suppliers there will be no expression of fear or insecurity in the sight of uncomfortable feedback.

Module 3- Show concern for each other

Rapid building of trust for both buyers and suppliers is enhanced when there is a genuine expression of concern for each other’s interests. Understanding the different goals of both parties will enable them to fashion out the means of achieving their goals together.

Conclusion

No man is an island. The relationship between the buyer and the supplier is made strong with trust. As far as it is geared toward a mutual benefit, it is good.

Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.

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