TRAINING
AND DEVELOPMENT
Vendor
Relationships
Middleman:
A person who acts as an intermediary, especially, in the
movement of goods from the producer to the consumer. Profit
stems from the total cost of buying the goods and the net
revenue from selling the goods.
The
only reason to work on vendor relationships is to increase
your profits and grow your business and add to your peace of
mind. Isn’t this why you’re in business in the first
place? Vendor relationships are the front side of the
equation that leads to your profitability: the difference
between poor vendor relationships and good vendor
relationships could be two to ten points.
Although
high tech solutions are available to assist you with your
vendor relationships, they are not the only answer and their
success is dependent on well-designed low-tech system
operations. You needn’t wait to invest in a high tech
solution to improve your vendor relationships. You can do it
immediately by attending to vendor files, vendor program
tracking, payment schedules, and elevated communication with
vendors in the planning versus reactive crisis mode.
Strong
relationships bring...
•
Profits through enhanced personal relationships
•
Profits through inclusion in vendor plans and programs
•
Profits through preferred status in actual dollars and
discounts
You
can increase your vendor relationships by...
•
Organizing internal systems to enhance communication
•
Improving communication systems with vendors
•
Establishing exceptional financial relationships
Vendor
relationships are critical to ongoing success through
existing and profitable strategic relationships. Vendors
want you to succeed – they have an investment in your
success.
Company
owners and managers will learn powerful new ways to...
-
Evaluate
current vendor relationships.
Determining
area of needs and issues that need resolution.
-
Enhance
internal and external systems (low tech solutions).
Identify
and address internal processing systems that reflect
your image with vendors.
-
Enhance
internal and external systems (high tech solutions).
Discover the key elements of the vendor side of CRM,
EDI, and Internet systems.
-
Manage
your vendor relationships profitably.
Enhance
your personal communication with your vendors.
-
Establish
clear objectives to measure the success of your vendor
relationships.
Quantify
through cost and profit analysis the success of your
vendor relationships.
INSTRUCTOR:
JEFFREY HANSLER
For
a .pdf version of this page click
here.
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