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Your boss tell you that you must order20 items only, but all the suppliers accepts only minimum of50 items. How will you convince the supplier to accept your20 items?
A supplier is defined as the person or organisation that provides a product or service to another business.
Finding a reliable and competitively-priced supplier is vital to the success of your business.
To build strong business relationships with your suppliers, through good negotiation, collaboration, management and performance review skills.
The terms that you negotiate with your supplier need to be based on:
the way that you pay them – bank draft, commercial bill paid for by bank, foreign currency
potential costs - administration, taxation, transport, general payments and transactions
possible risks - late payment to supplier, or faulty, late or undelivered goods
Once all the information is gathered, you are required to get an approval from your management.
