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Vendor and Retailer Relation

Vendor and Retailer Relation

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Published by ANKURIII

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Categories:Types, School Work
Published by: ANKURIII on Dec 23, 2009
Copyright:Attribution Non-commercial


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Strategies to Strengthen VendorRelations
Vendor management allows you to build arelationship with your suppliers and serviceproviders that will strengthen bothbusinesses. Vendor management is
 negotiating the lowest price possible.Vendor management is constantly workingwith your vendors to come to agreementsthat will mutually benefit both companies.
Some Tips1. Share Information and Priorities
The most important success factor of vendor management isto share information and priorities with your vendors. Thatdoes not mean that you throw open the accounting booksand give them user IDs and passwords to your systems.Appropriate vendor management practices provide onlythe necessary information at the right time that will allow avendor to better service your needs. This may includelimited forecast information, new product launches,changes in design and expansion or relocation changes, just to name a few.

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