In B2B commercial transactions, trust forms the foundation of long-term business relationships. Brands building honest and ethical business relationships with the companies they work with ensures long-term partnerships. People in the business world do not appreciate being lied to and prefer not to work with individuals who deceive them. They also do not provide references or recommendations to those they cannot establish a trust relationship with. This situation becomes a significant factor that seriously damages both brand and personal image. Therefore, reliability and honesty should always be emphasized in relationships with product suppliers, regardless of the circumstances.

Analyzing Product Delivery Time

When working with product suppliers, they should analyze how long it takes to procure the products. This allows them to predict the time required for these processes to complete when replenishing stocks. Through this foresight, they can set minimum stock limits. Stock limits vary depending on the products, so different limits need to be set for each product type. The procurement times for these products should also be calculated in advance.

Checking Product Quality, Quantity, and Integrity

One of the points that brands need to pay attention to during the product procurement process is checking the quality of the products obtained, the quantity of the items sent, and the integrity of the products. Missing product shipments or damages to the products are possible scenarios. To avoid encountering such situations or to plan for what to do when potential problems arise, the process should be managed more carefully. In case of missing or damaged product shipments, it is essential to contact the supplying vendor and take steps to resolve the issue.

Considering Potential Risks

In the business world, there are always risks associated with the procurement processes of products. Especially, the pandemic experienced in 2020 is a very good example of this. Such unfavorable conditions, economic fluctuations, natural disasters, or similar reasons can lead to situations that jeopardize product procurement. Brands should always be prepared for such situations.

While it may be effective for brands to choose multiple companies or individuals to work with during these crisis periods, it still does not fully guarantee trust. Creating contingency plans, taking precautions regarding inventory management, and preparing for potential risks are critical details for companies in terms of product procurement.