Vendor Relations ShareGroup
3 Major Takeaways for Vendor Relations Professionals
March 21, 2018
Thirty-two channel relations leaders met at the Vendor Relations ShareGroup at HIDA’s Executive Conference to exchange ideas and problem solve around the efficient management of the manufacturer-distributor relationship.
#1 Teamwork Makes The Dream Work
Working in groups is key in effective partnerships and can prevent delays. Involve all key stakeholders down to your sales person in all your planning calls. When you do not involve everyone in your process, you will make your process so much longer.
#2 Little Tweak, Big Results
Set goals by activity or by revenue at every level – rep, regional, and national levels. Goals need to be discussed in every conversation, so necessary adjustments can be made. Do not wait until a month or two later to question what happened between the last conversation and now.
#3 Trust – The Glue That Holds It Together
Align your compensation plans to avoid trust issues. If a distributor did not receive compensation on a branded product but did on a private-label product, this trust issue will be very difficult to resolve.
Stay tuned for more info about the Vendor Relations ShareGroup at HIDA’s Streamlining Healthcare Expo and Business Exchange in September 2019.