Vendor Relationships

All businesses rely on vendors for supplies and products which enable them in return to provide a product or service for a fee. Therefore, it is crucial that you find reputable vendors and maintain good relationships with your vendors. If you make fabric baby dolls, but your fabric vendor is unreliable, the availability of the product you offer, cloth dolls, will also be unreliable. Obviously, this will adversely affect your business.

Listed below are some tips to use to have successful vendor relationships:

• First, research vendors and only choose ones that have good reputations - this alone will save you many headaches
• Always set up an agreement that specifies the price, the delivery method and time, and the payment terms
• Pay your bills on time
• Always handle problems in a professional manner
• Keep in touch and build the relationship
• Only ask for special favors when absolutely necessary (i.e. you need the supplies tomorrow because of an unusual order)