Maintaining good vendor relationships – how and why

Consult and history book or military strategies and you will find that nobody defeats an army with the right allies. And the same can be said for running a company – there is no room for a lone ranger approach here. When it comes to doing good business, we cannot rely on just ourselves today. This is a competitive and tough market we do business in, which is why we need the right kind of support. So, maintaining good vendor relationships is definitely something you have to consider. This is why we decided to examine the best ways of doing that, all to contribute to developing your moving business.

Why the need for maintaining good vendor relationships?

Business people shaking hands.
Good allies in business ensure the progress of your company.

It’s simple when you think about it. Whether you are a retail or service type of business, you will always need assistance from other companies. Whether those companies are vendors, suppliers, moving business SEO consultants or software developers – you need to have a working relationship with them. It comes down to plain old logic – the more assistance you have, the more reliable and profitable your business venture can be.

As time progresses and your moving business grows, you will begin to experience increased demands for services. So, you have to ensure that your company is able to follow through and deliver the same quality as always. This could mean better rates, quicker services, and overall growth. And those who dare underestimate the importance of maintaining good vendor relationships usually experience the consequences fast. Whether it’s bad reviews and comments from unsatisfied customers, or the inability to accept any moving lead that comes your way – a lot of it rides on good B2B relations. Like any other relationship you maintain, one with your vendors should be constantly nurtured.

5 simple ways to maintain good relationships with vendors and partners

When it comes to building a good brand image and reaching the very top of the moving industry, maintaining good vendor relationships goes a long way.  This type of management focuses on ensuring that all important B2B processes are functioning properly:

  • Acquisition of packing materials.
  • Maintenance and purchase of moving trucks, dollies, and other equipment.
  • Software development and support for movers.
  • Maintaining good relations with digital marketing specialists etc.

As long as you keep your business partners happy, you ensure that your moving company is operating at full capacity. After all, this is something that benefits both parties and points you to have a reliable ally to turn it in cases of emergencies. The type of trust that comes from a strong relationship with vendors can help you a lot with long-term company plans. So, it is in this spirit of useful knowledge for movers that we’ve assembles 5 practical tips for maintaining good vendor relationships:

Planning for and playing the long game

When you build a relationship, personal or business, you always want to make it last as long as possible. There is a little gain (and a lot of risks) to be had from short-term relationships, especially in business. So, if you plan to focus on getting as much out of your vendors or partners in the first month or year, think again. It might seem like a win now, but it will only cost you a potentially useful ally in the future.

Laptop, newspaper, calculator, plans - everything you need on a table.
Planning for the future of your company means maintaining good vendor relationships.

When you plan out all this, you have to consider the long-term prospects and contribution of the vendor. You never know how influential they can be in furthering your operations or upgrading your overall functionality and productivity.

Work out a mutually beneficial agreement

That initial contract you sign with a vendor will be the foundation of your future cooperation in the months and years to come. So, take the proper time to prepare all the details of the contract before you provide it to your partners to sign. Make sure to create an agreement that benefits both of you equally. Remember how much time you invested in finding the perfect business partner – why risk alienating them right from the start?

Communication is key to maintaining good vendor relationships

Remember that it takes two sides of a coin to do business. Just because you have a working contract with your vendor or business partner does not mean that you should ignore them and their advice. Take the time to listen to their concerns and accept certain sacrifices to offer minimal risks on your end. This will not only be mutually beneficial, but it will present you as willing to compromise and build your partnership.

Like two pieces of a puzzle coming together - so must you and your business partners.
All the pieces need to come together towards common business goals.

In order to present and measure the progress of your partnership, invest the effort to schedule meetings, physical or online. Get relevant feedback from vendors and consider how certain issues can be tackled. This way, you can even prevent potential problems before they even arise. Maintaining good vendor relationships means listening and adjusting to any and all situations.

Involve vendors in your plans

The knowledge and expertise that certain vendors and partners can offer are unique and you should treat it as such. As long as you have a standing cooperation and open communication, why not get their input regarding certain obstacles you face. After all, you never know how useful their expertise can be. You are definitely not the first company they are working with, so they might just have the perfect advice to give you. As an added bonus, your vendor will know that you value their opinion. And this, in turn, allowing both companies to factor these aligned goals into their plans.

Keep KPIs at the forefront

Key performance indicators (KPIs) can help you in managing projects by offering a clear insight into your partnership. In business, results and performance can often be clouded and hard to measure, but as long as you properly monitor it all, you can easily see if expectations are being met. As long as you have regular KPI reports to present and discuss with vendors and business partners, you can easily identify potential issues and resolve them in record time.

In closing of this topic

These tips will help you maintain a positive relationship as both your companies move in the same direction. Otherwise, you may end up alone in your endeavors and “fighting against windmills”. Consider what is most important here – making your business grow and develop into something significant.