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Always choose the right suppliers

Make clear requirements from your end to the suppliers from the outset. Make it a point to choose suppliers who adhere to established standards for playground equipment safety performance.

Always have multiple suppliers for each product

Never try to rely on just one supplier for ang product. This has been shared by an entrepreneur whose company purchases a wide variety of items from upholstery to plastics, fibreglass, pipes and clamps. He also says disasters, like fires or floods, can occur and prevent suppliers from delivering. So with more than one supplier per product, you should always be prepared for the worst-case scenario as well.

Regular Communication

You need not surprise your suppliers, is another strategy. You should keep in constant touch with them inorder to give regular updates. You probably should sit down with them, let them know what’s coming, what you are planning down the road. This approach definitely helps build loyalty and they would love it as they can gear up and will be fully aware of what to expect from you.

 Maintain mutual trust

It is important to build and maintain mutual trust with suppliers in the loop about upcoming projects. It can count on suppliers to help him out if they needs something in a hurry.

Do not penalize honest mistakes

Never create hardship for your suppliers. Anyone can make a mistake. But handle it in such a way that they guarantee you that nothing like this will happen again.

Price negotiation

Suppliers who know what to expect in terms of upcoming businesses do not have to be constantly on the lookout for new contracts. They always expect something in return. This translates into the treatment on pricing.

To master in any field, education from a reputed institution is mandatory.  The supply chain management courses in Kochi are offered by many reputed institutions. This is due to the increased demand of Supply chain management courses in Kerala. Logistics courses in Kochi and supply chain management courses offer a promising career to the students.