Enable Blog — Supplier Collaboration

B2B contract renegotiation in challenging times

Posted by Elizabeth Allcock on September 14, 2020 08:39:00

The COVID-19 pandemic has left many organizations renegotiating contracts sooner than they envisioned due to the uncertainty in the marketplace and the changing conditions of business which, when combined, result in their trading partners being unable to meet the current deal terms.

Contract negotiation is a difficult exercise at the best of times, because a great amount of time and effort is spent up-front in negotiating B2B contracts, but due to the pandemic expediting contact renegotiations, these challenges have been magnified. For example, contract renegotiation will open up the possibility of having to agree to less favourable terms than before. We have also found that companies tend to file their B2B contracts away and very little attention is spent in understanding and tracking their on-going performance. Businesses that fall short of monitoring their B2B contracts fail to maximise revenues, control costs and open their organisations up to a multitude of risks for their deals. They are also in a weaker position during renegotiations as the true benefit of their current deal is unknown.

By looking at the wider picture when approaching contract renegotiations this will not only serve your interests better, but also improve collaboration with your suppliers. If you neglect the glaring issues, contract renegotiations in the wake of COVID-19 will mean missing out on new revenue opportunities for your B2B deals which could actually be the foundation to increase profits in the long-term!

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Topics: Contract Management, Supplier Collaboration

Supplier vs vendor: what's the difference?

Posted by Elizabeth Allcock on June 16, 2020 09:30:05

In the supply chain and the rebate world, you will often hear the terms supplier and vendor used interchangeably when supply chain roles and duties are discussed. Even here at Enable we sometimes call supplier rebates, vendor rebates. They both supply goods and services, but there are certain attributes that make each one a distinct term in the supply chain world, which we will discuss in more detail below.

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Topics: Supplier Collaboration, Vendor Rebates, Supply Chain

Why supplier collaboration is the key to success

Posted by Elizabeth Allcock on March 31, 2020 09:59:13

Companies around the world are shifting to global supply chains, which although allows companies to source materials and manufacture products more cost-effectively it comes with many challenges. It can make it more difficult to connect with the right people in the supply chain, resolve concerns, and respond quickly to changes and unexpected events otherwise known as supply chain disruption.

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Topics: Supplier Collaboration, Supply Chain

How to streamline your deal approval workflow

Posted by Elizabeth Allcock on March 26, 2020 08:58:20

Businesses that plan together, succeed together. But whenever a business makes a deal with another business, it needs to be approved on both sides. And getting that approval can be a slow, inefficient process.

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Topics: Rebate Management System, Supplier Collaboration

Tips for negotiating the best deals with your trading partners

Posted by Elizabeth Allcock on March 18, 2020 10:08:04

Negotiating B2B contracts is a regular activity, both sides want to get the best deal possible. By negotiating you can achieve a contract that is fair, reasonable and beneficial to both parties - even helping to boost company profitability and improve goodwill and collaboration between trading partners.

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Topics: Rebate Management, Contract Management, Supplier Collaboration

How can electrical distributors drive profitable growth?

Posted by Elizabeth Allcock on February 24, 2020 14:34:55

In a challenging environment, smart electrical distributors are finding new ways to drive profitable growth—not least, taking closer control of key trading agreements.

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Topics: Industry Sector: Wholesale Distribution, Supplier Collaboration

Collaborator: work together to boost your rebate earnings

Posted by Richard Neil on January 29, 2020 13:10:02

Collaboration is a process that allows a group of people to come together and work towards the accomplishment of a common goal. In business, you and your trading partners share a common goal of achieving profitable growth, so why are many trading relationships adversarial or treated as an afterthought? With significant advancements in cloud-based workflows and file sharing technology, the opportunity for multiple parties to collaborate on a project using a single platform has never been more achievable.

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Topics: Supplier Collaboration

Key practices for supplier vs distributor collaboration

Posted by Howard Cook on January 6, 2020 11:39:00

Distributors and suppliers are both working towards the same goal, so what’s stopping them from working together?

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Topics: Rebate Management System, Supplier Collaboration

How B2B distributors can use the deal economy to beat Amazon

Posted by Andrew Butt on November 18, 2019 09:32:48

The rise of Amazon Business has distributors rattled. To compete, distributors should focus on the things Amazon can’t provide—using the Deal Economy as fuel.

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Topics: Rebate Management, Rebate Management System, Supplier Collaboration

Aligning finance and procurement teams to drive better vendor rebate deals

Posted by Andrew Butt on May 17, 2019 16:46:00

In business, procurement and finance are two separate departments, working alongside one another within the organisation. The procurement function is about spending the money well and driving more for less from suppliers, and the finance team is all about keeping the balance sheet in check and driving profitability.

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Topics: Rebate Management, Procurement, Rebate Accounting, Rebate Management System, Supplier Collaboration, Vendor Rebates, Industry sector: Finance