How to Foster a Culture of Partnership with Vendors

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Summary

Building strong partnerships with vendors requires a focus on mutual respect, open communication, and shared goals, turning transactional relationships into collaborative ecosystems that benefit everyone involved.

  • Build trust through communication: Engage in open, honest conversations with vendors about their challenges, goals, and needs, fostering transparency and mutual understanding.
  • Align on shared objectives: Work with vendors to establish common goals, allowing them to contribute unique solutions that align with both parties’ interests.
  • Support their success: Treat vendors as partners by advocating for their growth, providing connections, and celebrating achievements together.
Summarized by AI based on LinkedIn member posts
  • View profile for Nick Shackelford

    Drinkbrez.com Structured.agency Konstantkreative.com

    33,582 followers

    Every partner you work with is human behind the business trying to keep their head above water. This is something I think more of us should be better at after being on both sides for the last decade. Even my side needs to be better at this. Agencies, freelancers, suppliers, and consultants, ingredient folks, co-packers, shippers, all people with bills to pay. That’s why in times like these I ask every partner the same two questions. 1 - "You guys good?" 2 - "Does it make sense to prepay?" Rebuilding relationships from scratch is infinitely harder than maintaining trust we've already earned!!! Most brand folks will never ask for help. But opening honest dialogue about cash flow and mutual support has been incredibly valuable. Ask your partners how their business is really doing. Are they getting enough introductions? Connect them with people who could improve everyone's situation. I do promos and shout outs for brands and founders I genuinely believe in. I always disclose it, and only promote products and people I actually stand behind because how else are they going to get introduced to new people with similar interests? Supporting people you believe in while building your own audience creates value for everyone. When the human element gets lost, you become just another vendor in a sea of replaceable relationships. Most partnerships fail because founders only think about themselves. The best partnerships happen when you think about the ecosystem. Your vendors' success is your success.

  • View profile for Dr. Saleh ASHRM

    Ph.D. in Accounting | IBCT Novice Trainer | Sustainability & ESG | Financial Risk & Data Analytics | Peer Reviewer @Elsevier | LinkedIn Creator | Schobot AI | iMBA Mini | 59×Featured in LinkedIn News, Bizpreneurme, Daman

    9,224 followers

    Are your procurement practices stuck in a "ONE-SIZE-FITS-ALL" mindset? We’ve all seen it: A company with strong sustainability goals tries to enforce the same standards across every supplier, expecting one policy to work in vastly different environments. But when it comes to sustainable procurement, what if the key isn’t in replication but flexibility? Take Toyota Motor Corporation, for instance. Their long-standing relationships with suppliers show that collaboration and visibility drive better results than rigid rules ever could. In fact, they describe their interactions as “almost intrusive” but in the best way. This approach ensures both sides remain committed to shared goals, like reducing waste or enhancing resource efficiency, while allowing each partner to bring unique solutions to the table. Imagine this: Rather than prescribing exactly how each supplier should reduce packaging waste, set a shared target say, a 15% reduction. One supplier might use smaller boxes, another might swap materials entirely. Both achieve the goal, but each does it in a way that suits their specific setup. But here’s the trick: For this mindset shift to work, transparency is essential. It’s about creating a culture of openness, where every team and supplier feels empowered to innovate toward that common objective. Consider taking inspiration from the UN Sustainable Development Goals. Which aligns with your company’s values? Could you integrate these into your procurement practices to guide not just one supplier, but your entire supply chain toward a long-term vision? Switching from a prescriptive policy to a shared goal mindset doesn’t just drive sustainability it fosters trust, creativity, and results that everyone can own. So, Is it time to rethink how you define “BEST PRACTICES”?

  • View profile for Srividhya Vaidyanathan

    Energy Supply Chain Executive & Doctoral Candidate | Leading AI-Driven, Touchless Supply Chains | Strategy and Decision-Making for Resilient, Sustainable Futures

    4,332 followers

    As supply chain professionals, are we the tough, growling tiger when dealing with suppliers and the cuddly, purring kitten when interacting with the business? Is this Jekyll and Hyde approach really the way to go? Spoiler alert: it's not! The true magic happens when we embrace the wise, balanced nature of an owl – treating both our suppliers and the business with mutual trust and respect. This collaborative approach to internal and external relationships is the secret sauce to a resilient supply chain, transforming challenges into opportunities and suppliers into partners. From my experience, here are five steps to foster productive relationships with the suppliers and the business 1. Communicate Openly: Share your challenges and listen to theirs with an open mind. Communication is the foundation of any successful relationship. 2. Share the Vision: Let suppliers and business stakeholders know where you're headed. A shared goal creates a powerful alignment and motivation to work together. 3. Mutual Respect: Treat your suppliers like you would your most valued customers. Respect breeds loyalty, and loyalty is what weathers the storms of supply chain disruptions. 4. Collaborate on Solutions: Work together to solve problems. Embrace the wisdom of the crowd – two heads (or ten) are better than one. 5. Celebrate Successes Together: When you win, ensure your suppliers and stakeholders know they've won too. What if we all embraced a collaborative spirit, transcending traditional avatars? The possibilities are endless! How does your ideal supply chain show up for its partners? Share your vision! #supplychainmanagement #supplychain #supplierrelationshipmanagement _______________________________________________________________ Found this insight helpful? Consider Re-sharing

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