Top 10 Challenges Faced in Buyer Supplier Relationship Management

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One of the most looked through-relationship in a business is the one you have with your vendors. For a business to deliver highly satisfactory services, it is important to have a streamlined workflow starting exactly from the vendors. Delays, gaps and miscommunications can lead to a subsequent pause in deliveries, hampering your overall business rapport. 

While you can always keep a close eye on your in-house processes, dealing with third-parties isn’t as easy. There are always some unknown gaps that your business has to come across on a day-to-day basis. 

A business on average faces a regular delay of 48-72 hours while expecting shipments. But, the state of crisis occurs when the duration and frequency of delays increase. 

The source of error resulting in conflicts could-be-anything. Understand and rectify the conflicts to its exact necessity to ensure smoother processes.

 

Here are the top 10 Challenges faced in any buyer-supplier relationship management and how they can be resolved:

Not Investigating Supplier’s Track Record

The first step to take before engaging with any supplier is to go through his past and current projects and to investigate his knowledge about tax and legal implication of exporting and importing. Knowing the supplier beforehand helps to create and build healthy relations.

 

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Also Read: Top 8 Ideas To Enhance Business Productivity without much effort

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Overlooking Their Industry’s Business Culture

Belonging to a different culture may give rise to different views and interpretations while having the same conversation.

 

Communication Gap

Communication is absolutely necessary for many aspects of the business. If a supplier doesn’t understand the company’s strategic goals that may fulfil the needs and requirements due to poor results. Maintaining good contact with the suppliers can benefit the organization in a big way.

 

Non-Transparency in Processes

Many times, the non-transparency of the supplier’s process creates gaps in the company-supplier relationship. Technology can play a crucial role to fill this gap. Analyze the whole process more efficient by using an online purchase order and invoice management tool like Invoicera.

 

Burdening the Already Over-Burdened Suppliers

Suppliers deal with many organizations at once. Often the order is delivered late by the supplier because of the unavailability of the product. These type of late deliveries can weaken the relationship. Forecasting the requirements of the company can help in running the SRM process smoothly.

 

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Related post: Buyer-Supplier Relationship Management Best Practices

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Forgetting Relationship at the Time of Damaged Delivery

At times, the delivered product turns out to be damaged or flawed. Aggressive steps at such times can ruin a relationship. One should notify the supplier respectfully and ask him to replace it. A healthy balance maintained while taking steps against suppliers who are underperforming. A healthy balance manages underperforming suppliers.

 

Inefficient Supplier Training

If the supplier doesn’t understand, what the company wants its customers to experience through their products, he won’t be able to provide enough supplies. One should make sure that the supplier knows the company’s motto. They should be given appropriate training to ensure expectation levels.

Create a comprehensive knowledge base that can train your suppliers on each of your different processes. If you are a corporate with a huge network of suppliers, you may also consider setting up a website exclusively for suppliers to learn the processes and coordinate with your internal teams for supplies. It doesn’t cost a lot to set up such a platform with the help of website builder tools. 

get your invoice approved in 3 minutes

Avoiding The Need To Nurture

A healthy relation only nurtures when the two sides stay together for long.

Abandoning the suppliers at the time of success may create stress in a relationship. To avert this, one should include the supplier at every milestone and success celebration of a company.

 

Disharmony in Buyer-Supplier Chain

In a time without recognition and encouragement, the supplier becomes disloyal to an organization. Changing the supplier is not the solution here as it will consume more time and money. One can gain the loyalty of a supplier by encouraging him, or perhaps, offering incentives if possible.

 

Conflicts Over Contract

Signing a biased contract can be very unpleasant for the supplier. One should make sure that the contract has benefits for both the sides. A contract must be reviewed very carefully before it gets finalized.

Many organizations are now realizing the importance of Buyer-Supplier Relationship Management. Efforts have to made on a continuous basis to build harmonious Buyer-supplier relationships. SRM is a long-term approach to sustained success.

 

Invoicera is an Online Invoicing Tool that Provides a Host of Features to Effectively Manage Buyer-Supplier Relationship :

Invoicera offers an array of features to ensure the convenience of management and precision with data. Now, no more hustling around and wasting your precious time with little executions that can be automated easily.

  • Send and Schedule Invoices to the buyers on time.
  • Buyers can send purchase orders in a timely manner.
  • Suppliers can send in estimates for buyer approval.
  • In the case of a price settlement, the buyer can send inappropriate credit not.
  • The buyer can get a free log-in to access all invoices and account statements online.

 

Opt for Invoicera to manage your account payable and receivable effectively. Keep a record of all your finances and invoices together in cloud-based accounting software.  FREE SIGN UP.

 

 

 

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Veronika Tondon is a business enthusiast with extensive experience in Invoicing & Payment Process. She has 6+ years of experience in Invoicera, the leading cloud-based invoicing solution as Invoicing Consultant. Sound knowledge in business process execution, offers end to end solutions for complete automation of business processes and AR/AP processes. Contact Veronica for your invoicing requirement.

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admin

Veronika Tondon is a business enthusiast with extensive experience in Invoicing & Payment Process. She has 6+ years of experience in Invoicera, the leading cloud-based invoicing solution as Invoicing Consultant. Sound knowledge in business process execution, offers end to end solutions for complete automation of business processes and AR/AP processes.
Contact Veronica for your invoicing requirement.

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  • Would you allow your government to place a microchip in your body?

    This is the future we are heading towards with RFID microchip technology.

    Even more note worthy, did you know there was a man almost 2000 years ago who foretold of a cashless society in the end times? This mans name is Jesus.

    Did you know that this RFID chip lines up perfectly with the Mark of the Beast in Revelation 13:16-18?

    “He(the false prophet) causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

    Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666” (Revelation 13:16-18).

    Referring to the end times, this could only be speaking of a cashless money society, which we have yet to see, but are moving towards. Otherwise we could still buy or sell without the mark among others if physical money was still currency. This mark could not be spiritual, because the word references two distinct physical locations on the human body. If it was spiritual, it would just say in the forehead.

    Carl Sanders sat in seventeen New World Order meetings with heads-of-state officials such as Henry Kissinger and Bob Gates of the C.I.A. to discuss their agenda on how to bring about this one-world system. The US government commissioned Mr. Sanders to design a microchip for identifying and controlling the peoples of the world-a microchip that could be placed under the skin with a hypodermic needle(a quick, convenient method that would be gradually accepted by society).

    Mr. Sanders, along with a group of engineers behind him, with US grant monies provided by US tax dollars, took on this challenge and designed a chip that is powered by a lithium battery, rechargeable through the temperature fluctuations in our skin. Without the knowledge of the Bible(Brother Sanders was not a follower of Jesus at the time), these engineers spent one-and-a-half-million dollars doing research on the best and most convenient place to have the microchip placed under the skin.

    Guess what? These researchers found that the forehead and the back of the hand(the two spots Revelation says the mark will go) are not just the most convenient locations, but are also the only viable places for rapid, consistent temperature changes in the skin to recharge the lithium battery. The RFID chip is approximately seven millimeters in length, .75 millimeters in diameter, about the size of a grain of rice. It is capable of holding pages of information about you. All your general history, work history, crime record, health history, and financial data can be stored on this chip.

    Mr. Sanders believes that this chip, which he regretfully helped design, is the “mark” spoken about in Revelation 13:16-18. The original Greek word for “mark” is “charagma,” which means a “scratch or etching.” It is also interesting to note that the number 666 is actually a word in the original Greek language. The word is “chi xi stigma,” with the last part, “stigma,” also meaning “to stick or prick. Carl believes this is referring to the use of a hypodermic needle being poked into the human flesh to insert the microchip.”

    Carl Sanders reached out to a doctor asking what would occur if the lithium contained within the RFID chip leaked into the body. The doctor answered by saying a terrible sore would appear in that spot. This is what the book of Revelation says:

    “And the first(Angel) went, and poured out his vial on the earth; and there fell a noisome and grievous sore on the men which had the mark of the beast, and on them which worshipped his image” (Revelation 16:2).

    The Bible tells us we cannot buy or sell without the mark of the beast, or the number of its name. This number is identified as 666. The Bible tells us to calculate the number 666.

    In this world we are identified by numbers, whether it is our social security number, drivers license, or cards used to make payments. The number of the beast represents something like this, to identify us in a one world government system. This number will be contained inside the chip to identify each and every one of us so we may buy or sell.

    To see the hidden meaning behind calculating the number 666(6+6+6=18), and how it matches up with scipture perfectly,

    Go to: https://biblefreedom.com/rfid-mark-revealed

    The Bible warns us in the end times that a false prophet will rise up doing miracles to deceive many to take this mark. No matter the cost, do not take it!

    “Then a third angel followed them, saying with a loud voice, “If anyone worships the beast and his image, and receives his mark on his forehead or on his hand, he himself shall also drink of the wine of the wrath of God, which is poured out full strength into the cup of His indignation. He shall be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. And the smoke of their torment ascends forever and ever; and they have no rest day or night, who worship the beast and his image, and whoever receives the mark of his name” (Revelation 14:9-11).

    With all these religions in the world, how can we be confident the Bible got it right? The scientific data has established and continues to support that the universe once had a beginning in which space, time and matter were created. This is known as the big bang.

    “The non-biblical religions tell us that god or god’s create within space and time that eternally exist. The Bible stands alone and says that time and space don’t exist until God creates the universe.” – Hugh Ross

    Did you hear that the real Noah’s Ark was discovered where the Bible told us it would be with the correct dimensions? As well as hard evidence for the destruction of Sodom Gomorrah and the Exodus account of the Red Sea crossing?

    The Bible is the most translated and read book in the history of the world, full of predictive prophecies. Wouldn’t you expect God’s word to be so?

    This information can all be found at https://biblefreedom.com

    “And He(Jesus) said to me(Apostle John), “It is done! I am the Alpha and the Omega, the Beginning and the End. I will give of the fountain of the water of life freely to him who thirsts” (Revelation 21:6).

    “Jesus answered and said to her, “Whoever drinks of this water will thirst again, but whoever drinks of the water(the Holy Spirit) that I shall give him will never thirst. But the water that I shall give him will become in him a fountain of water springing up into everlasting life” (John 4:13-14).

    “Jesus answered, “Most assuredly, I say to you, unless one is born of water and the Spirit, he cannot enter the kingdom of God. That which is born of the flesh is flesh, and that which is born of the Spirit is spirit. Do not marvel that I said to you, ‘You must be born again.’ (John 3:5-6).

    All religion is man-made. Man can create religion, but no one can create the Holy Spirit that comes from God out of Heaven. Jesus never told us to follow a religion or denomination:

    “Then He(Jesus) said to them all, “If anyone desires to come after Me, let him deny himself, and take up his cross daily, and follow Me” (Luke 9:23).

    You can receive the Spirit of God right now. If you are willing to humble yourself before Jesus, and believe in your heart that God raised Him from the dead on the third day; call out to God and ask Him to forgive your sins, to receive His Holy Spirit. If you are genuine, He is faithful and just to forgive, and He will give you a new heart, a renewing of the mind, restoring everything the devil has stolen from you; making you like a child again.

    When we receive the Spirit of God, we become born from above, and His seed resides within us. We no longer make a practice of sin, but rather turn away from unrighteousness and receive the righteousness of Christ.

    From that point onward, we must put all our hope and trust in Jesus, and grow to walk in His ways, not straying from the narrow path. For Jesus says,

    “Enter by the narrow gate; for wide is the gate and broad is the way that leads to destruction, and there are many who go in by it. Because narrow is the gate and difficult is the way which leads to life, and there are few who find it” (Matthew 7:13-14).

    “Holy, holy, holy, Lord God Almighty(One God), Who was(Jesus) and is(YHWH) and is to come(Jesus)!” (Revelation 4:8).

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