Strategies To Building Strong and Sustainable Relationships with Indian Suppliers
It’s important to include your approach to suppliers in your strategic plan. Suppliers are a crucial aspect of almost every business, whether it is product or service-oriented.
However, many business owners tend to approach supplier relationships in the wrong way. They mistakenly believe that because they place orders, they are in a dominant position and can make unreasonable demands and expect personal benefits.
In reality, what businesses need are good and dependable suppliers. Once you find them, it’s essential to treat them with the utmost respect and value their partnership, in other words, treat them like Gold.
Building a strong relationship with your suppliers is just as important as building relationships with your customers, and it requires the same level of hard work and dedication.
As an overseas FBA seller, sourcing products from Indian suppliers can be an attractive proposition. With a large manufacturing industry and a reputation for quality, India has become an increasingly popular destination for FBA sellers looking to expand their product offerings.
However, building strong supplier relationships can be a challenge, especially when working with suppliers in a foreign country.
How India Sourcing Trip can help you build supplier relations
Tricia Watts, an FBA seller based in Australia, faced difficulty in getting a response from a supplier she was interested in. Despite several attempts to reach out, she did not receive a response.
But, when Tricia mentioned her attendance at India Sourcing Trip, the supplier immediately became more cooperative and responsive towards her.
This incident highlights how attending the trip helped her gain an advantage over other buyers in the industry.
Tips and strategies for building successful supplier relationships with Indian suppliers.
-Conduct thorough research
Before reaching out to potential Indian suppliers, it is important to conduct thorough research. This includes researching the companies themselves, their reputation in the industry, and their products. Look for companies that have a proven track record of quality products, reliable delivery, and good customer service. Check their certifications and accreditations to ensure they meet international quality standards.
-Attend trade shows and conferences
Attending trade shows and conferences in India is an excellent way to connect with potential suppliers. This will give you a chance to meet them face-to-face, build relationships, and see their products first-hand. It is also an opportunity to learn about the latest industry trends and innovations.
Building relationships takes time, so be patient. Take the time to get to know your suppliers and their culture, and invest in building long-term partnerships. This includes understanding the business culture in India, which is a big part of dealing with suppliers from India. It is very different from what you may be usually accustomed to.
-Use local support
Working with a local agent or consultant can help you navigate cultural differences and language barriers. They can also help you negotiate deals and resolve any issues that may arise. This can be especially helpful if you are new to working with Indian suppliers.
When working with Indian suppliers, it is important to be respectful of their culture and traditions. This includes being aware of different time zones, holidays, and business practices. It is also important to be aware of any cultural differences that may impact how you do business.
Clear communication is key to building successful supplier relationships. This includes being clear about your product specifications, delivery timeline, and payment terms. It is also important to be responsive and timely in your communication.
-Build a personal connection
Building a personal connection with your suppliers can help build trust and strengthen your relationship. This can include sending a thank you note after a successful shipment or even a small gift during the holiday season.
-Keep the lines of communication open
Maintaining open lines of communication with your Indian suppliers is essential. This includes checking in regularly to ensure that everything is going smoothly and addressing any issues promptly. It is also important to provide feedback on their products and services, as this can help them improve and grow their business.
Ways to build trust with your Indian supplier
–Pay your bills on time- Negotiate favourable payment terms before placing orders, but once the order is placed, stick to the agreed-upon rules. If you can’t make a payment, communicate with your suppliers and explain why and when you will pay. Don’t play games with suppliers’ finances, as this can damage your relationship with them.
Example: If you’re having difficulty paying a supplier, reach out and explain the situation. Offer a revised payment plan or timeline that works for both parties.
-Provide suppliers with adequate lead times whenever possible- Share an honest projection of your needs and keep them informed of any significant changes in those projections. It’s helpful to understand your suppliers’ production methods and needs when developing lead times.
Example: If you’re a retailer planning a big holiday sale, give your suppliers enough lead time to produce and deliver the products you need to make the sale a success.
–Personalize the relationship with your suppliers– Visit their offices, include them in strategy meetings, and invite them to office parties and picnics. Building a personal relationship with your suppliers can help strengthen your business relationship.
–Share information with your suppliers- Keep them informed of what’s happening in your company, including changes in key personnel, new products, and special promotions. Sharing information can help your suppliers find new customers for your business.
Example: If you’re launching a new product line, let your suppliers know in advance. They may be able to offer valuable input or suggestions that can improve your product or help you find new customers.
Attending India Sourcing Trip can be a game-changer for your business. Imagine having the power to establish invaluable connections with top-notch suppliers who can provide you with the exact products you need for your brand.
Not only that, our trip also equips you with the skills to manage those relationships effectively, giving you an edge over other buyers. Don’t miss out on the opportunity to become a quality buyer and boost your reputation in the industry.
Join us on India Sourcing Trip today!
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