Working with suppliers, contractors, and other vendors is an important part of business. Building strong vendor relationships can help your organization with its core mission, and a poor vendor relationship can result in shoddy work, wasted time, and costly setbacks.
Vendor relationships can only succeed if both parties share the same values, the same quality standards, and the same commitment to making the partnership work.
Before entering into an agreement, carefully evaluate potential suppliers and contractors to ensure that their work meets your expectations.
Solicit testimonials from previous customers to determine whether the vendor’s values align with your organization’s and whether the vendor can deliver what it promises.
Once you’ve found a contractor or supplier you’re comfortable with, you don’t have to go through the costly vetting process every time you need similar goods or services, this saves your organization time and money.
Establish clear expectations up front.
Set the scope of the work to be performed, the time frame in which it should occur, the standard of quality, how it will be measured, how the parties will communicate, how decisions will be made, and what to do in the event of contingencies.
Put this information in writing.
Communicate regularly. You and your vendors bear responsibility for the success or failure of the partnership, so make sure that everyone is accountable for their roles.
Ask vendors for their feedback and insight into the health of the relationship.
Managing vendors effectively is an ongoing process that requires balancing your organization’s needs with those of your partners.
When those needs are in sync, the relationship stands a good chance of succeeding.
When they don’t, despite your best efforts to align them, it might be time to look for a new partner.
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