Many are the reasons why establishing a good business relationship management comes in handy. Aside from the daily hustle and grind in business, supplier relationships offer a great deal of opportunity on how better or worse, your business efficiency can go. On the other hand, developing supplier relationships can be a handful unless you are the type of business that likes micro-management. If you are the type of business that likes micro-management and you are fond of visiting your supplier warehouse or office, then you’re on the right track! However, if you are the latter, then you can read this article and start learning about the ways that can help you out.
Create excellent supplier relationships and boost your business success by forging good partnerships. Every supplier and business is unique. There is no one size fits all, which is why it is important to understand how you can work effectively with your supplier partners by knowing them better through direct communication and engagement. Here’s an insider for you: there’s an online platform you can use which can help you strengthen your supplier relations anywhere you are in the world! Read on!
Table of Contents
What is a Supplier Relationship, and Why is it Important?
Fostering Supplier Relationships Digitally
Ways You Can Improve Your Deliveries and Transactions
Using an eCommerce Platform to Improve Business Operations
Takeaway
What is a Supplier Relationship, and Why is it Important?
If not one of the essential parts of the business, supplier relationships are an area that needs a lot of attention from business partners, team members, and owners. Supply relationships are the relationship between a company and its supplier company. For example, if you own a call center and you work with another company in acquiring your tables and chairs, then that company is your supplier partner.
Supplier relationships are meaningful because it helps businesses establish long-term healthy executive order fulfillment. When supplier relationships are nourished and given good importance, companies are able to create an overflowing stream of productivity. Aside from the aforementioned, businesses are able to obtain cost-effective values in acquiring their supplies when they work with a supplier whom they engage effectively with.
Among the many things that you should avoid in a business, neglecting your suppliers is one of them. As a business owner or team member, one must remember to take care of the relationship your company has with your one or many suppliers. Fostering supplier relationships is as crucial as acquiring excellent sales conversions. Despite this, it is also considered how building relationships with suppliers may be difficult, especially in the traditional setup.
Fostering Supplier Relationships Digitally
With different markets getting more complicated by the day, supplier relationship management becomes more vital and tricky. Creating efficient solutions to foster supplier relationships will help in administering a more profitable and speedy operational system for both supplier companies and businesses. Leveraging against your competitors also comes from the way you work with your suppliers. Should you have difficulties in working with your suppliers, then you can expect a significant effect on your sales numbers.
Consumers have switched to using online platforms to purchase goods and services. Some brick-and-mortar companies are still stricken to use physical stores and limit their customer and supplier engagement to face-to-face transactions. While this isn’t entirely negative, it does come with a couple of missed opportunities. Either way, as an entrepreneur, the ball’s still in your court.
Here are some of the things that you can work on if you want to foster a better supplier relationship in your business…
- Digitize your supplier management.
- Create an automatic system for logistics and tracking.
- Collaborate with your suppliers and prospective suppliers.
- Provide a clear stream of communication.
- Have a designated supplier management team or personnel.
Above are some of the things that you can work on if you want to foster a better supplier relationship. You may work on these personally in your physical office, but you should also know that there is an online platform that you can use to work on all of the aforementioned and a lot more. The eCommerce platform Shoppable specializes in digital procurement for business-to-business transactions. The platform features a ton of tools and accessibility perks that you can use to your advantage.
If you’re interested in growing your business and operating more efficiently while working with a good relationship with your supplier partners, then you should definitely join Shoppable right now! If you’re still thinking about it, then here are some reasons that will help you deepen your understanding of the platform…
Here’s why you should join Shoppable…
- It’s FREE – It’s free to start selling on the Shoppable platform. As long as you’re a legally registered business, you’ll be able to list products for free on Shoppable. You only pay a commission if an item sells on the platform, and you get paid.
- Expand your Customer base – Through Shoppable, you’ll reach thousands of new customers for free. Think of Shoppable as your marketing arm that you only pay when you have a sale.
- Get your eCommerce Store – Increase sales by digitizing your product catalog and reaching customers worldwide. Print catalogs are dying, costly, and not environment friendly – digital is the future. Sellers can get their eCommerce store on Shoppable Business that can be given to any client.
- Procurement Technology – Enable your customers to pay you online through Bank Transfers, Credit Cards, Over-the-Counter Payments, Recurring Payments, and more. Easily track and manage orders, payments, and shipping through the Shoppable platform.
- Shipping Technology – Shoppable has integrated directly with multiple shipping couriers, enabling you to provide same-day to next-day delivery to your customers.
- Compliance – Sales invoices and 2307’s required? Don’t worry. Shoppable has got you covered! The platform keeps sellers fully compliant, never worrying about missing documents.
- 3PL & Fulfillment Services – Need additional manpower? Shoppable can provide you with warehousing and fulfillment solutions so you can expand your brand to different locations enabling you to get products delivered faster to your customers.
- Real Sellers, Real Buyers, and Real Products only – We vet and interview sellers that join the platform, so you will be assured that all of the products and transactions are authentic and legitimate.
Ways You Can Improve Your Deliveries and Transactions
When you’ve finally realized the importance of supplier relationships, you might find yourself in a constant state of reevaluation. You might bring yourself back to questioning whether or not you are working on the right strategies for your business and if you can achieve your goals with the plans you have set. Working with your suppliers and operating your business in every area also involved having a good delivery and transaction system. Here are some of the ways you can improve your deliveries and transactions…
- Provide a stream of organized documentation.
To achieve the best delivery service, one must create a simplified yet organized documentation system. At the same time, when you develop a system of documentation, you must be clear about protecting the data of your clients and each individual who will be involved in the transaction. Others have to create a system manually, but you can also join a platform that helps you achieve these systems automatically. This platform can be the eCommerce brand we discussed earlier, which is Shoppable.
- Create a communication system with your warehouse.
Communication is essential in ensuring that you are able to deliver your products or services efficiently to your customers. Not only does proper communication help in diminishing the number of issues and misunderstandings, but it also helps build stronger relationships with your courier partners. With this, you can guarantee that there will be no influx of orders that are on a halt at your warehouse or your logistics office.
- Utilize technology by digitizing your logistics and tracking system.
To improve the flow of your logistics and tracking system, it is vital that you invest in creating or operating your logistics and tracking using a digital operations system. Maximize your business’ efficiency when you use a tech-driven system that will help you manage your logistics. Avoid experiencing delays that will make your audience angry and stressed. If you continue working on your logistics without systematic digital tracking, you’re sure to hear about it in customer service. So, as soon as you can, switch to using a reliable tech-based operational system for your logistics and tracking.
- Choose the exemplary courier service.
If you want to enhance the way your business accomplishes each delivery, you must see to it that your courier partners are on the same page as your goals. You can choose from a list of courier services that are willing to offer their services to your company. If they offer packages or different rates for each service, select the most appropriate service for your company’s size, needs, market scope, and time frame. It would be helpful to create a spreadsheet that will feature the different companies who are looking to offer their courier services to your business.
In choosing your partner courier company, there are quite a lot of things to consider, namely the type of delivery service, company background, customer reviews, professional appearance, the efficiency of delivery, and courier performance. Believe it or not, some companies can experience going to court because of courier misbehavior. So, when you work with a third-party courier, know that you will be working with a company that will also reflect your brand image and will carry your company’s name along with theirs.
- Supercharge your customer service.
When customers create orders through their devices, they pretty much expect them to arrive right away. Time is against everyone involved in providing orders and delivering packages. Keeping your customers updated and well-informed about the tracking of their orders is one way to make them feel at ease and lessen the tension that they are experiencing. Customers may grow to be aggravated and more distressed when they do not receive any information about their order due to the lack of communication with customer service.
Enhancing your customer service and the quality which you radiate with your customers will directly affect your company’s future. Should you be a company that neglects its customers by being absent when they are in need of answers, then you can count on receiving hate mail and negative reviews across all platforms of social media. Hence, you must be a committed team in ensuring that you always provide your customers with excellent customer service and open communication.
Using an eCommerce Platform to Improve Business Operations
Let’s compare two different types of operations. One conducts its business within the premises of its physical store, while another operates its business wherever its members and owners are. The one that operates its business within the premises of its physical store – is limited to reaching only a significant number of customers. The latter is a company that operates online. The company that operates online can reach a more substantial number of customers, not just locally but all over the world.
When a company operates online, it has access to countless hassle-free marketing tools, tech features, search engine optimization perks, and profile page analysis. Earlier, we mentioned the eCommerce platform Shoppable. The company is a startup that provides executive features for companies like yours, helping you grow and reach your goals more efficiently while limiting costs. One of the best perks that you can receive from Shoppable is that it is entirely free.
Joining an eCommerce platform such as Shoppable helps in strengthening your business’ development by providing countless features which you can access for free, anywhere you are and anytime you’d like. One of the best features of operating your business online is that you can take control of your time however you’d like. Devising a cohesive plan for your business is made better through the help of eCommerce.
Takeaway
As you work with your team and develop the relationship between you and your supplier and partner couriers, you begin to understand the depth of your business. Knowing the minor aspects you can explore can help you address the areas of your business that impact the larger picture. Others may consider the supply chain, logistics, and courier services as an external aspect of your business that does not need much attention; however, these are actually one of the largest impacting factors to a business.
If you want to learn more about the supply chain and how you can better improve your service, including logistics and courier service, then you should contact Shoppable now! Reach out at [email protected] or click here by joining and grow your network by connecting with the country’s first digital procurement platform.
