Executive Briefings

Does the Supplier Need You or Is It the Other Way Around?

Your approach to suppliers needs to be part of your strategic plan since almost every company, whether product- or service-oriented, is dependent on suppliers. Many business owners seem to get this supplier issue backwards. They think that because they write the order, they're in the dominant position and can exploit it with unreasonable demands, including personal perks.

Let's get this right . . .you need good and reliable suppliers. When you find them, treat them like gold. Work as hard on building a good supplier relationship as you do building a good relationship with your customers.

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Your approach to suppliers needs to be part of your strategic plan since almost every company, whether product- or service-oriented, is dependent on suppliers. Many business owners seem to get this supplier issue backwards. They think that because they write the order, they're in the dominant position and can exploit it with unreasonable demands, including personal perks.

Let's get this right . . .you need good and reliable suppliers. When you find them, treat them like gold. Work as hard on building a good supplier relationship as you do building a good relationship with your customers.

Read Full Article