Challenges Faced in Buyer Supplier Relationship Management

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Challenges Faced in Buyer Supplier Relationship
Management
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(No Transcript)
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• One of the most looked through-relationship in a
  business is the one you have with your vendors.
  For a business to deliver highly satisfactory
  services, it is important to have a streamlined
  workflow starting exactly from the vendors.
  Delays, gaps and miscommunications can lead to a
  subsequent pause in deliveries, hampering your
  overall business rapport.
• A business on average faces a regular delay of
  48-72 hours while expecting shipments. But, the
  state of crisis occurs when the duration and
  frequency of delays increase.
• Here are the top 10 Challenges faced in any
  buyer-supplier relationship management and how
  they can be resolved
• Not Investigating Suppliers Track Record
• The first step to take before engaging with any
  supplier is to go through his past and current
  projects and to investigate his knowledge about
  tax and legal implications of exporting and
  importing. Knowing the supplier beforehand helps
  to create and build healthy relations.
• Communication Gap
• Communication is absolutely necessary for many
  aspects of the business. If a supplier doesnt
  understand the companys strategic goals that may
  fulfil the needs and requirements due to poor
  results. Maintaining good contact with the
  suppliers can benefit the organization in a big
  way.

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• Non-Transparency in Processes
• Many times, the non-transparency of the
  suppliers process creates gaps in the
  company-supplier relationship. Technology can
  play a crucial role to fill this gap. Analyze the
  whole process more efficient by using an online
  purchase order and Accounts payable software like
  Invoicera.
• Inefficient Supplier Training
• If the supplier doesnt understand, what the
  company wants its customers to experience through
  their products, he wont be able to provide
  enough supplies. One should make sure that the
  supplier knows the companys motto. They should
  be given appropriate training to ensure
  expectation levels.
• Conflicts Over Contract
• Signing a biased contract can be very unpleasant
  for the supplier. One should make sure that the
  contract has benefits for both the sides. A
  contract must be reviewed very carefully before
  it gets finalized.

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• Avoiding The Need To Nurture
• A healthy relation only nurtures when the two
  sides stay together for long. Abandoning the
  suppliers at the time of success may create
  stress in a relationship. To avert this, one
  should include the supplier at every milestone
  and success celebration of a company.
• Invoicera offers an array of features to ensure
  the convenience of management and precision with
  data. Now, no more hustling around and wasting
  your precious time with little executions that
  can be automated easily.
• Send and Schedule Invoices to the buyers on time
• Buyers can send purchase orders in a timely
  manner
• Suppliers can send in estimates for buyer
  approval
• In the case of a price settlement, the buyer can
  send inappropriate credit not
• The buyer can get a free log-in to access all
  invoices and account statements online
• Opt for Invoicera, a Business financial
  management software for keeping records of all
  your finances and invoices together in
  cloud-based accounting software. FREE SIGN UP.
•  
• Source Top 10 Challenges Faced in Buyer Supplier
  Relationship Management

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