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Treasuring your suppliers

In your career world, they are a truly valuable source of learning and earning, and make life tolerable and fun

In its early days, M&S recognised the potential of supplier knowledge and loyalty. It paid for it by always paying their suppliers' bills immediately. This meant that up-and-coming suppliers paid more attention to this customer who was only too anxious to pay on sight of invoice.

SUPPLIERS and competitors are two vital parts of your business. Most organisations regard them as potential antagonists, ready to create costs or impel narrowed margins in a battle that could only be described as exhausting, or even terminal. These are quite the wrong ways to run relationships...

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