Variya Katewongsa’s Post

As we approach the busiest time for supply chains (mid-August through December), it's crucial to refine your supplier negotiation tactics. Here are 5 key strategies: 1. Align Internal Teams: Gain visibility into your supplier base across departments. 2. Build Long-Term Supplier Partnerships: Focus on win-win agreements and early communication. 3. Prioritize Needs Over Wants: Embrace collaborative strategies and creative solutions beyond price. 4. Plan Concessions: Know what you're willing to give and what you need in return. 5. Make a Plan: Start early, set clear goals, and involve all necessary departments. These strategies aren't just for peak season - they're valuable year-round for building strong supplier relationships and driving ROI. Read along with L&M Tool to take a deeper dive into these strategies: https://bit.ly/3VZPo7y

Carrots or Sticks to Motivate Suppliers? Buyers always aim towards a more collaborative and mutually beneficial relationship with their suppliers. Use of carrot and stick are both ways of motivating suppliers and maximizing supplier engagement. Carrot: The incentive to the supplier for doing something. When not used properly, you end up with fat suppliers Stick: The consequences to the supplier for not doing something. When not used properly, you end up with wounded suppliers.   Examples of use of carrots   1.     Deliver within this week and we shall push for an immediate payment. 2.     We shall double the order if you give me a 10% discount 3.     I will recommend you to our sister company if you extend a better discount 4.     Reduce the unit price, we shall use our own transport     Examples of sticks   1.     You have to deliver this week or we cancel the contract 2.     If you don’t extend a 10% discount we shall move to your competitor 3.     I cannot promise to recommend you to our sister company without a better discount 4.     If you cannot deliver by COB, consider the order cancelled. It is okay to mix carrots and sticks on suppliers but use more carrots. It better to have fat suppliers than wounded suppliers.

As we approach the busiest time for supply chains (mid-August through December), it's crucial to refine your supplier negotiation tactics. Here are 5 key strategies: 1. Align Internal Teams: Gain visibility into your supplier base across departments. 2. Build Long-Term Supplier Partnerships: Focus on win-win agreements and early communication. 3. Prioritize Needs Over Wants: Embrace collaborative strategies and creative solutions beyond price. 4. Plan Concessions: Know what you're willing to give and what you need in return. 5. Make a Plan: Start early, set clear goals, and involve all necessary departments. These strategies aren't just for peak season - they're valuable year-round for building strong supplier relationships and driving ROI. Read along with Cheshire Tool to take a deeper dive into these strategies: https://bit.ly/3VZPo7y

As we approach the busiest time for supply chains (mid-August through December), it's crucial to refine your supplier negotiation tactics. Here are 5 key strategies: 1. Align Internal Teams: Gain visibility into your supplier base across departments. 2. Build Long-Term Supplier Partnerships: Focus on win-win agreements and early communication. 3. Prioritize Needs Over Wants: Embrace collaborative strategies and creative solutions beyond price. 4. Plan Concessions: Know what you're willing to give and what you need in return. 5. Make a Plan: Start early, set clear goals, and involve all necessary departments. These strategies aren't just for peak season - they're valuable year-round for building strong supplier relationships and driving ROI. Read along with Peerless Supply to take a deeper dive into these strategies: https://bit.ly/3VZPo7y

As we approach the busiest time for supply chains (mid-August through December), it's crucial to refine your supplier negotiation tactics. Here are 5 key strategies: 1. Align Internal Teams: Gain visibility into your supplier base across departments. 2. Build Long-Term Supplier Partnerships: Focus on win-win agreements and early communication. 3. Prioritize Needs Over Wants: Embrace collaborative strategies and creative solutions beyond price. 4. Plan Concessions: Know what you're willing to give and what you need in return. 5. Make a Plan: Start early, set clear goals, and involve all necessary departments. These strategies aren't just for peak season - they're valuable year-round for building strong supplier relationships and driving ROI. Read along with BJ Electric to take a deeper dive into these strategies: https://bit.ly/3VZPo7y

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excellence is not an act but habit

Quality vs Cost...

Value is more important than cost. This simple change in mindset can change the world. It would give rise again to craftsmen and artisans. It would alter the business landscape of which businesses succeed and which ones fail. It could bring more humanity back to our culture. Great post and great video! #growthmindset #value #leadershipgoals #levelup #changetheworld

Quality pays off in the long run