Here's How You Can Protect Your Business

Working With Suppliers Part 2

In this five-part article, we are discussing ways that contractors and suppliers can work together to create a successful and long-lasting partnership. In the first section, we discussed the main ingredients necessary to create this foundation of trust. In this section, we will discuss some of the main components in employing the right supplier. Finding the right supplier and maintaining that business relationship starts with a few simple steps.

Reliable Referrals and Research

When you are searching for a supplier, the best place to start is with the wisdom of friends and respected peers in the industry. Acquire referrals from other reliable professionals on their preferred suppliers and do some analysis of the supplier’s company and employment history. Along with researching the company, analyze their culture and determine if it fits well with your company and your purchasing needs. If you are looking for reliable suppliers, it’s best to start with the knowledge of reliable companies and professionals you trust in the industry.

Diversify Your Supplying Needs

Although you want established professionals for your supplying needs, it’s never safe to assume that the biggest companies will automatically be the best for you. Sometimes it could be more beneficial to employ two or three smaller companies that can make your purchases a priority over one huge company that treats you like a minnow. If you elect to go this route, inform each supplier that you are using a few others and they will respect your honesty.

Benefits of Multiple Suppliers

Creating friendly competition for your purchasing needs can be beneficial for a variety of reasons. Utilizing a few suppliers also helps prevent you from hedging your bets and being stuck in a crisis if your primary supplier can’t deliver on time. If you have other reliable suppliers in your Rolodex that are eager to meet your purchasing needs before a deadline, this can be greatly beneficial and help establish a trustworthy partnership. At the end of the day, you want to discover that long-term supplier that is committed to working with you and supplying you with all of your purchasing needs. This process can help do that.

As we continue this series, we will discuss many more aspects of the contractor-supplier relationship. In the third section, we will discuss the art of negotiating purchasing deals with a supplier. In the fourth and fifth section, we will offer more tips to establish a stronger partnership with a supplier and we will then conclude our series. Remember, as Tampa construction lawyers, we are here to offer construction industry professionals any legal advice they may need.

If you would like to speak with a Tampa construction lawyer, please contact us today.

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.