Developing Strategic Relationships With Your Suppliers

1. Leverage Communication With Customers

Make it a point to bring both suppliers and customers into discussions around process improvement and problem solving. The relationship between CPOs and their vendors is only as successful as the processes and systems in which they work.

2. Track Your Relationship

Create an organized system to track all of your vendor relationships. This will save you time and money when working with a growing volume of  third parties. Hold all of your vendors accountable to the same set of expectations to prevent any confusion if and when a problem does arise.

3. Promote Supplier-Led Innovation

Maintain a strong and positive relationship with your suppliers to help better manage your brand risk and/or product risk. Playing a zero-sum game with suppliers is rarely the best way to serve your company’s interests.