Sam Walton, the founder of WalMart, had a great saying: ‘Share everything you can with your suppliers. The more they know, the more they’ll understand. The more they understand, the more they’ll care. Once they care, there’s no stopping them’.
It is crucial to have a good relationship with your suppliers, as almost every company is dependent on them, if you can save money or improve the quality of your products and services, you are set to benefit. You need your suppliers to help you achieve your future plans – The more you share, the more information and help you get back! If you don’t trust your suppliers with your future plans, then you are working with the wrong suppliers.