Suppliers Want You to Be Their Customer of Choice

Customer of ChoiceIs your company recognized by its suppliers as a Customer of Choice?  What exactly does this distinction mean and why is it important?  A Customer of Choice is a customer recognized by many of its suppliers as a preferred customer for a number of reasons.  From their talented workforce and integrated management systems to their global processes and approach to supplier collaboration, customers that can achieve this distinction can unlock new sources of competitive advantage with the help of their suppliers.

When suppliers recognize that they have a Customer of Choice on their hands, they have a tendency to go out of their way to service that particular customer’s needs.  In these situations, suppliers will assign their most talented employees, allocate scarce resources, provide additional discounts, prioritize production capacity, give early access to new products, and go out of their way to solve customer problems so that their customers can … Read more...