Keep supplier relationships strong. Reliable suppliers can become a competitive advantage.
What to do
- Pay agreed invoices on time and communicate early when there is a problem.
- Share realistic forecasts for important products instead of placing every order as an emergency.
- Keep notes on supplier quality, responsiveness, lead times and pricing.
Watch out for
Treating suppliers as disposable can cost the business priority access, flexible terms and support when supply becomes tight.
Example
A merchant with a strong relationship may get early notice of a price change or be allowed to reserve fast-moving stock before it sells out.
Accurate sales and inventory records help merchants have more informed conversations with suppliers about what they actually need.
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