Supplier engagement. You might be thinking to yourself, what exactly is that? With it being my first week as a marketing intern for S4RB, I’ve exhausted all notions surrounding supplier engagement and what it is exactly; but if I were to simplify it, supplier engagement is simply collaborating with suppliers, engaging them in your goals and visions.
Collaboration, collaboration, collaboration
When looking at collaboration, to me it directly means working together as a team, whilst committing to various roles that have been assigned to you to make the final project all come together. Working together to achieve more together which in the long run makes it easier to achieve goals on time, evidently building strong foundations.
Still, confused? I get it, it took me a few Google searches and reading previous blog posts to get my head around it. Let’s break it down a little more.
Why supplier engagement doesn’t just apply to retail
From my own experiences whilst being at university, I’ve used supplier engagement techniques without fully realising it at the time, especially whilst working in group projects. Group projects can be tricky but just by collaborating and engaging as a team brings the whole project together. Group work can’t succeed without everyone working together and collaborating; as it runs the risk of the final project being late, lesser quality or it being unsuccessful. Without the support, knowledge, and opinion of one individual, the project can potentially have a detrimental effect on the whole group.
Supplier engagement for retailers
As you can see, collaboration is needed in every aspect of life. But when bringing it back to retailers, supplier engagement is the key to success. Engaged suppliers who are more invested in your brand will be motivated to complete the actions asked of them and on time. The benefits of having suppliers engaged with your brand are second to none. Meaning you can produce top quality products, at a great price and on shelves quickly. All of which improves the overall customer experience with the brand.
Good supplier engagement replies on better communication, better transparency, and better support.
However, if bad supplier engagement isn’t done right, it will make the process of having a successful final product or project difficult and the relationship between both brands and suppliers will suffer.
Hopefully, this blog post has shed some light on supplier engagement and has made it a little easier to understand. Just remember it isn’t as complicated as it sounds, you are probably relating aspects of it in your everyday life. For more information on supplier engagement you can read: Supplier engagement for first timers.
Next week, I’ll be looking into the difference between grocery retail and apparel retail and how they work with their suppliers.