If your trading company is to be successful, you need to ensure that you are on good terms with your suppliers at all times. If you are not on good terms with your suppliers at any point, there is a risk of them sabotaging your business operations. And your business would then have to suffer, as you look for other suppliers. In some niches, your business could actually be brought down by suppliers – especially in the niches where you deal with just a single supplier, or where you deal with a few suppliers operating as a cartel.
Some of the ways in which you can maintain good relations with your trading company’s suppliers include:
- By seeing to it that you always pay your suppliers on time
- By giving reasonable delivery terms to your suppliers
- By generally dealing with the suppliers in a respectful manner
It is also a good idea to ensure that you ‘touch base’ with your suppliers from time to time – even when you don’t actually have orders for them. The objective here is to ensure that you maintain the relationship, so as to ensure that the suppliers prioritize your order when you eventually have one. You need to avoid the situation where you only contact the suppliers when you need something from them. It surely doesn’t take too much time, nor cost too much money, to pick up your phone and call your suppliers from time to time: just to know how they and their businesses are doing. In terms of phone charges, if you are using, say, the Metro PCS system, you won’t really be charged much more at the pcspaybill portal on account of having made just a few friendly phone calls to your suppliers. While paying the resultant phone bills at www.metropcs.com/payment, you should view the extra amount you have to pay as one of your legit business expenses. Maintaining good relations with your suppliers may seem as if it is a non-issue, yet it is one of the key things you need to do, if you want to keep your trading company from failing.