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Supplier Relations

Successful businesses are full of strong relationships, including those with your partners, customers, investors, and suppliers. Having these secure connections can heighten the capacity for you to both create value and foster quality for your business.

Casey Carroll
30 Jan

Successful businesses are full of strong relationships, including those with your partners, customers, investors, and suppliers. Having these secure connections can heighten the capacity for you to both create value and foster quality for your business.

That’s why, we wanted to focus on the importance of supplier relations and give you tips on how to build and maintain them.

Forming strong supplier relations is a cornerstone to a successful product business. By building strong foundations with your suppliers, you can reduce your supplier pool and centralize purchasing activity with them. This can lead to receiving better pricing and payment terms, lower shipping costs, and increasing their volume buying power. Additionally, you will have lower overall transactional costs because the costs involved in setting up a supplier in internal systems, completing transactions, and managing the ongoing relationships will significantly decrease. Focusing on a few suppliers will lead to a decrease in processing costs, giving you more control over billing.  When dealing with your suppliers, it is always advantageous to make clear that you view the relationship as a partnership and emphasis that you are invested in the long term.

Another benefit includes improving supplier quality. Having fewer and better suppliers can help ensure the quality of your products is satisfactory--which is a major make-or-break for a business. Since your supplier has direct contact with your products, having an open, collaborative relationship with them can lead to openly sharing data related to product quality, shipping or billing errors, or late deliveries. This is beneficial to both parties.

As with all of our relationships, payment history is among the greatest differentiators between a positive relationship and a problematic one.  When you have a strong history of paying your suppliers on time, you may open all sorts of opportunities ranging from positive credit references to favorable slotting on additional production runs.  Forever 8 alleviates this concern for businesses, ensuring that suppliers are always paid on time.  

Building strong supplier relations increases efficiency. As the relationship with an organization’s supplier develops, the communication improves. As with any relationship, as relations with your supplier grow, they get to know more about your business and can make them want to increase the efficiency of their services to you. This can lead to any order issues being solved effectively and in a timely manner.

The first step towards building strong supplier relations is understanding how your suppliers work. Along with showing your supplier that you respect their business and how they operate, you are ensuring both you and your suppliers have similar priorities and goals.

The next step is being sure to talk through any misunderstandings or problems with your supplier. Talking through your issues will both guarantee open communication and help your supplier understand what you’re looking for. Open communication will keep both parties from making similar mistakes in the future.

Similarly, providing feedback to your supplier will help build connections. Giving your suppliers feedback about the supplies you’ve received will help them understand what you’re looking for. They will be more inclined to quickly fix a problem when they arise if they’re kept up-to-date about how you feel about their business. Remember: positive feedback is as important as negative when it comes to building strong relationships!

Now that you know about the importance of strong supplier relations and how to build them, make sure you reach out to your suppliers and start building your supplier relationships today!

Until next time, let us know if you have any questions or comments below!



Casey Carroll
30 Jan

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