I want you to think of your best supplier. Not necessarily your biggest or your most important. Think about your best supplier.
Now describe the attributes they demonstrate that make you consider them your best.
Is it reliable delivery, financial stability, competitive pricing, or accurate invoices?
Or is it something else entirely?
Now think about your biggest and your most critical suppliers.
Which attributes of your best supplier are they missing? Do they understand your expectations for the attributes in which they fall short? Does your entire supply base understand clearly what it takes to meet your expectations?
If not, I suggest you talk with them about it. Find out what changes you need to make so they can improve their performance. Then discuss which improvements they need to make and what help they need from you to accomplish those successfully.
Now take a look back at your description of the attributes of your best supplier. If all your suppliers demonstrated performance in those areas, could you make your customers more competitive in their markets?
If your description of your expectations for suppliers doesn’t include “they make us better,” maybe even your best supplier falls short of being good enough.
Give it some thought. Then take action. Before it’s too late.
Your customers are looking for suppliers that make them better.
Be one of them.
As published by IndustryWeek