Photo by Sebastian Herrmann on Unsplash
On a macro level, much has been said and written about solving supply-chain issues. Especially since they came to light during the COVID crisis.
After all, just one glitch can prevent profits and satisfaction with the end users. That’s because a supply chain is complex — from leveraging source materials and manufacturing to sales to the final destination of customers.
Not to over simplify, there are typically four basic phases:
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- Integration — strategic planning, continuous sharing of information communication about data analysis and storage of materials.
- Operations — involving inventory and production schedules.
- Purchasing — sourcing products and capitalizing on competitive prices.
- Distribution — the transportation, delivery of goods.
So, for competitiveness and profitably in buyer-supplier relationships, it’s important for companies to focus on their vendor relationships — from a smooth flow of data to effective operations.
Mistakes are too expensive and must be averted. That requires finding the right vendors and knowing their processes that will lead to productive negotions for a deep relationship with them for mutual satisfaction.
It’s important to utilize the right software to deeply monitor situations for proper planning, onboarding and performance.
Consider valuable reminders from Contract Lifecycle Management (CLM):
Improving Vendor Management Relations from Agiloft, a clm sales company
From the Coach’s Corner, see these tips:
Leadership Best Practices in Negotiations – 22 Dos, Don’ts — Leaders know that no matter what you need to negotiate, there are often easy strategies to get anything you want. Even in tough negotiations, you’ll want both parties to feel positive after the negotiation is complete. Emotional needs for both of you have to be met. Here’s how.
Marketing Pros Need to Use These Negotiation Strategies — You’ll become a better marketer, if you know the right strategies and master your skills in any negotiation. See these tips.
Develop a Durable Supply Chain Despite Coronavirus— There are steps you can take to alleviate the health and economic challenges to your supply chain – now – and for the future.
How to Get Great Service from Dysfunctional Vendors — Do you ever feel people treat you like a doormat with their crazy behavior? If so, here are proven steps to stop the insanity and get what you want.
KPIs in Managing Your Inventory for Ecommerce Profit — Management of inventory is crucial in ecommerce, if your business is to be profitable, sustainable and able to grow. At the minimum, you should leverage three key performance indicators.
“Surround yourself only with people who are going to take you higher.”
-Oprah Winfrey
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