Reduced costs:
When suppliers and businesses have a good relationship, they can work together to minimize price volatility, such as by exchanging fixed prices for longer contracts. This can also lead to cost savings and fewer delays.
Improved operations:
When suppliers and businesses have a healthy, long-term relationship, they can exchange ideas and feedback, which can lead to better customer service, a streamlined supply chain, and simplified buying and budgeting processes.
More value:
When businesses and suppliers know each other well, they're more likely to receive personalized service, discounted prices, and other beneficial terms