When does a supplier become more than a supplier? When does it become a relationship?
At LAUK we like the strength of relationships as they suggest solid foundations and longevity but a successful relationship is much more than that. Here are some key characteristics that we believe make a strong supplier relationship:
Understanding: Your suppliers must understand the sector they are working in. Every sector has its own challenges and developments. A good supplier will be immersed in your world and know what your issues might be.
Honesty: A supplier who is open about how they operate is essential. Delivery times, stock availability, the ability to meet expectations and be reliable - all invaluable traits.
Possession of a little black book: A really good supplier will know people. They will know how to get exactly what your business needs and not be afraid to signpost you elsewhere whenever it is required. This overlaps slightly with understanding and honesty but a supplier worth their salt will know when it's time to pass your enquiry elsewhere, confident that they'll come back to you at the right time. They'll also have a host of excellent contacts themselves so they can provide you with high quality, competitively priced products or services from a healthy range.
People: It has to come down to people in the end. We're not convinced that a business that operates 100% in the virtual world can ever class itself as anything more than a supplier. Face-to-face meetings, a willingness to go the extra mile, working together and including the human touch are vital relationship building blocks. Bending and compromise can't be programmed in.