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If your salary is paid by your vendor friend, you should stay loyal to him.
You ought to get the best deal possible for the company who is paying for your bread and butter.
I would prefer to take the good deal from the new one... but at the same time i will ask the current supplier to provide a similar deal in order to keep working together.
Don't mix your personal feelings to your work.
Think straight and act according to the market conditions. If a supplier is providing you a better deal considering to the present one which you are getting accept it,
From the company's cost reduction point of view you need to accept the best your company will benefit from.
The answer is explain what is great deal ? is it price only ?
Integrity & Work Ethics are the most important traits/Must Haves of a Purchasing Manager. So, keep personal and professional relationships apart. As a cost optimisation objective, the lowest bidder has to be bought from (considering other imp parameters like Quality, reliability etc are equivalent). Only aspect to be weighed wrt the current supplier is that if this is a recurring purchase and there is a strategic relationship with the current supplier. In that scenario, try and reduce price from the current supplier by negotiating wrt a target price.
Great Deal are attractives but we need to check major parameters like Quality and other equivalent etc., one of the most important criteria is payment terms because we might get great deal but might end up paying in advance or full amount. Ofcourse we may discuss with our friend to showup with such good offers in future which will be beneficial to my company and my friend as well.
Taking a good deal will be priority. Will ask the existting supplier to get a better offer or atleast match the indication from new suplier before finalizing the deal. If the existing supplier is unable to give competitive deal then will check the background of new supplier to ensure they are trustworthy before awarding the business to them
That's the job we were hired to do "find and take good deals" for the benefit of our employers.
I will get the same good deal from my current supplier as we are friends.. Plus, I will distribute the business between the two suppliers my current and the new one.
always don't keep the eggs in one basket.
I would prefer to keep my good relation with my close supplier, nevertheless; i will suggest to reconsider his offer to meet the other competitor's proposal, otherwise if he insist on his proposal i should go with the new better option :)