CentricsIT’s Post

To establish good relationships and optimal negotiation leverage you should be open about the status of the relationship you have with your different vendors. Don't overcomplicate this - a three-list approach is easy to manage and effective to use. Reward your real partners and take action when red lines are crossed.

NEW! 👉 Vendor Store Mastery: Fine-Tuning Your Settings For Success (A Complete Guide) For your online multi-vendor marketplace to succeed, you need the help of vendors. And if you want your vendors to perform at their best, it's... https://lnkd.in/gqZwHU8G

NEW! 👉 Vendor Store Mastery: Fine-Tuning Your Settings For Success (A Complete Guide) For your online multi-vendor marketplace to succeed, you need the help of vendors. And if you want your vendors to perform at their best, it's... https://lnkd.in/gqZwHU8G

Let's talk about choosing your vendors. There are always 3 aspects to any offering: GOOD FAST CHEAP Before your vendor analysis, determine: Which 2 do you want? Good + Fast: It will be costly Fast + Cheap: It won't be the ideal Good + Cheap: I'm hoping you don't need a quick turnaround From here, your vendor decision is made easier. How are you positioned amongst your competition?

Quit eliminating potential vendors based on their client list. Instead of taking the time to find a “one size fits none but my industry” vendor, spend it on joining forces with your competitors. Your brick and mortar, website, social, etc. will all be the same… so why not? OR find a vendor that can deliver to everybody and their cousin, because that’s when you know what they do WORKS! Working with a diverse range of clients introduces refreshing ideas that stand out from the bromidic approaches of these companies. If you need to look up bromidic in the dictionary (I may or may not have), I’ll do the leg work for you. Bromidic - dull and tiresome but with pretensions of significance or originality

You should never tell a vendor they are the only ones being considered, even if they are, because you are giving away a significant leverage point. You ALWAYS need to create the illusion of competition whether other vendors are involved or not.

Crucial for companies to select the right vendors Crucial for vendors to select the right clients

The world of market research bids is complex, and when it comes to creating vendor specifications important details can be easily missed. This guide (link in the comments) is here to help clients understand the subtle but crucial elements that are often overlooked when choosing vendors. When putting together your bid, ensure you don’t disregard these unseen factors, as they are key to a successful and thorough collaboration.   #MarketResearch #VendorSpecifications #InternationalDataCollection

Pricing is everything when it comes to choosing your vendors. We understand this and want to help you meet your needs while staying in budget.

Pricing is everything when it comes to choosing your vendors. We understand this and want to help you meet your needs while staying in budget.