Managing Supplier Relationships: Taking the long view

Episode #221 // Times are tough. Inflation is on the rise, input costs are escalating, and organizations are tightening their belts. And it won’t be long before companies start to squeeze their suppliers in an attempt to find further cost reductions.Unfortunately, your suppliers are facing exactly the same pressures as you. So how do you make sure that you’re getting the best deal possible from your suppliers, without putting them at risk too?In this episode, I look at what makes a good contract (and it’s not always the cheapest). I show you some ways to extract value, other than just the blunt instrument of price reductions. And I let you in on a critical concept: the illusion of risk transfer. You’ll learn how to go beyond the procurement process to extract maximum value from your suppliers in tough times.————————FREE 5 DAY LEADERSHIP CHALLENGE: Want to boost your leadership capability? This challenge will start you down the path of improving your leadership confidence and skills—if you're willing to put in the work!Start the free 5 Day Leadership Challenge today: https://yourceomentor.com/challenge————————FREE QUIZ: I’ve created a brand new 3-question quiz that’ll give you a free personalized podcast playlist tailored to where you are right now in your leadership career!Click here to take the 30-second quiz now to get your on-the-go playlist————————You can connect with me at:Website: https://www.yourceomentor.comFacebook: https://www.facebook.com/yourceomentorInstagram: https://www.instagram.com/yourceomentorLinkedin: https://www.linkedin.com/in/martin-moore-075b001/Youtube: https://www.youtube.com/@YourCEOMentor————————Our mission here at Your CEO Mentor is to improve the quality of leaders, globally.Your boss wants more with less. Your team wants less, full stop. You're stuck in the middle.Leadership Beyond the Theory is 9 weeks to promotion-ready leadership.2,800+ leaders from 150+ organisations. 99% would recommend.Doors are now open for the June 2026 cohort, they close Fri 26 June!Join the cohort here: https://go.leadershipbeyondthetheory.com/ Hosted on Acast. See acast.com/privacy for more information.