Working With Suppliers Part 5
In this five-part article, we have covered several of the main components of creating a successful partnership between contractors and suppliers. In the first section, we discussed the importance of communication and building trust with a supplier. In the second section, we focused on ways to employ the right supplier. In the third section, we discussed the art of negotiating with a supplier. In the last section, we educated you on tactics that can help you coexist with a supplier. In this final section, we will conclude our series.
Avoid the Pitfalls
As we’ve discussed, there are many pitfalls contractors can experience that will turn suppliers away from desiring to work with them. Many contractors make the mistake of focusing so intently on their current negotiations that they fail to see the value of the long-term benefits of a partnership with a supplier. Although it may be briefly more advantageous to get a slightly better deal across town, you don’t want to compromise long-term dependability by doing so.
Some contractors try to cut corners by utilizing cheaper resources to complete the job and compromise the integrity of their project. Others fail to properly communicate their needs to suppliers or fail to learn the process the suppliers undergo to deliver materials on time. Understanding potential pitfalls will only help you bridge the gap and create a more beneficial work environment for both parties.
The Future Can Be Bright
Always consider your supplier’s perspective when coming to terms on a deal. Like any agreement that creates a strong long-term relationship, both parties need to feel as if they have benefited from doing business together. If the supplier provided the contractor with quality materials, a fair price, delivered the materials on time, and the contractor was professional and courteous throughout the process, they will work together again soon. This positive experience can be considered a stepping stone to a more comfortable and trustworthy partnership in the future.
Treat Your Supplier Like Family
Suppliers are an integral part of the building process. It’s important for contractors to make them feel this way. Inviting them to company functions, sending them seasonal gifts or visiting their office, and incorporating them into your company culture will only help strengthen this bond. Another critical bonus to befriending suppliers is that they may refer you to other suppliers giving you a network of trustworthy professionals to assist you with your purchasing needs.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.