Treat your suppliers with the same respect as your customers!

All our businesses are co dependant on our suppliers. When a supplier relationship is such that you both benefit it should make you more competitive (this doesn’t always mean cheaper) and both businesses should share in the success of increased business.

suppliers-customersWin-Win isn’t periodically and repeatedly driving down the purchase price, increasing rebates, demanding 60 and 90 day payment terms and continually imposing increased compliance costs.

A good test of how well you understand win/win is to identify what the actual cost or gain is to your supplier every time you change or request something. IE if you request a 30 day extension in payment terms and if over draft facilities are at 12% you are effectively adding 1% onto your suppliers costs. This cost drops straight to their bottom line so if they were making 5 % they are now making 4% which is 20% less. Obviously double sales volumes will more than neutralize this and deliver benefits for both of you.

Work together and help each other!

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Mark Collins