Suppliers are integral to any business for-profit organization no matter if you are a 3-star Michelin stall hawker or a Fortune 500 company, you can’t make your products without them.
As global supply chains span the entire world, you’ll never be able to engage all of your suppliers in one place at one time with the same message unless you host a supplier day event.
This event enables you as a customer to deliver your plans for the next fiscal year and let your suppliers know where are they and how important their role in delivering their quality products on time with reasonable cost.
This will also be the opportunity to pitch to your suppliers to invest in the latest technologies, commit to sustainability initiatives, collaborate in social responsibility activities which will have more impact communicated face to face than on screen.
Other benefits of having a supplier day:
🥂 Celebrate previous year achievements and secure position as supplier or customer of choice for the next
💡 Bypass corporate and procurement hierarchies and create meaningful dialogues and align with key decision makers
🫱🏻🫲🏽 Better collaboration between suppliers and their sub-tier suppliers for interrelated processes for shared logistics, QC and handling arrangements.
The supply chain is only as strong as its weakest link, this holds true no matter any industry serving any customer segment, therefore it is important to engage your suppliers very early on to create a win-win strategy for a long lasting and successful relationship.
Cheers 🥂 MFR