How To Obtain More Supplier Suggestions

Date: 06/01/2017

Buyers frequently ask suppliers to recommend a product or a method that will help the buyer’s company. Alternatively, they tell the supplier what they want and may give him formal or informal specifications. The latter method should be used more often.

Simply asking for ideas or suggestions is not likely to get the best results if you don’t let the supplier know much about your objective. If we are too secretive the supplier will not have enough information to be very helpful.

The best relationship with a supplier is when the supplier knows enough about your company including some of its plans, resources, and problems. For example, suppose your organization would like to enter a certain business to enhance what your company does, but you don’t have the resources to do so. A seller that knows this information may propose a partnership where their company will help you finance the acquisition of another facility or finance the needed equipment. Suppliers are likely to help you achieve your goals because they may then receive more business from you or simply continue to be one of your favorite suppliers.

Some things you may not want to divulge to your suppliers, however giving suppliers other information is not likely to be of any harm. One way to reduce any possible risk is to get a signed nondisclosure agreement from the supplier. You can make this a routine procedure.

Information you can usually give a supplier without the fear of any consequences is the amount you expect to sell of a particular product and the corresponding amount that you would need to purchase of various products. Other information that may help the supplier are the hoped for attributes of the product, such as color, weight, dimensions, and cost.

Smart suppliers will be eager to help you obtain your goals. Frequently they will come up with ideas that no one in your organization has thought of.