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Time to Market: Partnership Is a Two-way Street

The best way—and really the only way—to get the most from both your PCB vendors and others is to treat them as an extended part of your company. Bring them into the family, so to speak. And the better you treat your vendors, the better they will perform. I know that’s not the most complicated thing to say, but it is often not an easy thing to do. You have to intentionally choose companies to partner with as vendors, and then intentionally work to create a bond of trust with them consistently throughout the relationship.

If you follow the “Golden Rule,” which states, “Whoever has the gold makes the rules,” as the customer and the buyer of their product, you get to make all the rules, but will you get everything you possibly can out of your vendors? I doubt it. They will be professional enough to fulfill their contractual obligations to you, but that will be about it—no less, and certainly no more. If you insist on being a bully of a customer, pushing your weight around, and following the “Golden Rule,” you will get a vendor base that won’t do much more than what you ask them to do. In the end, this is not the vendor-customer relationship that you want, especially if you are in a company where time to market is critical.

Here are eight ways to maintain gratifying relationships with your vendors.

1.       Follow the Real Golden Rule

“Treat others as you would like them to treat you.”

2.       Build a Circle of Trust

You need to select partners who you trust explicitly and are comfortable sharing critical information with, and the best way to establish trust is to be trustworthy. If the vendor feels certain that your word is your bond, they will return the favor as well. Every relationship starts with trust.

3.       Share Critical Information

The more a vendor knows about your company, the better they can be as a vendor. Share what makes your company work. What is important to the success of your company, and how do your vendors contribute? Keep your vendor informed about future products and projects. Let them know where your company’s future lies so that they can plan on handling all of your PCB needs both today and in the future.

4.       Treat Your Vendors as Trusted Advisors

After all, they are experts in their field. Use that expertise as a resource and draw on it to make sure you design the best products possible with the greatest vendors possible.

5.       Be Flexible When You Can

Help them out when you can; then, you’ll be able to expect that same flexibility from them. Doing a favor for a vendor today will pay off in huge dividends tomorrow.

6.       Deliver Common Courtesy

Pay your bills, but more importantly, pay them on time. There is a tendency these days, particularly by large companies, to unilaterally change payment terms to 60, 90, or even 120 days, thus, extending their cash flow on the backs of their vendors. Don’t do that. It’s not fair, nor is it good business.

7.       Be Fair

See item #1 again. This is especially important when solving disputes. Try to see both sides, reach a fair and equitable solution to the problem, and keep the channels of communication open. The very worst thing you can do in a dispute is to go silent. When communication breaks down, nothing gets resolved, and resentment grows exponentially.

8.       Be Grateful

In this day and age, great service is not a given, nor to be expected. The sad fact is that there is more bad service out there than good, especially, and unfortunately, when it comes to PCBs. When your vendors provide you with great service, let them know that you appreciate it. A word of appreciation can go a long way in establishing a long-term relationship with your vendors.

Conclusion

Of course, these eight recommendations are always important in terms of your relationship with your vendors. But it is doubly critical when it comes to improving your time to market, which often tests all aspects of the process. Trying to have the fastest time to market is not a solo effort; you have to rely on your vendors. And the closer you are to those vendors, and the closer they feel to you, the better and faster your time to market will be.

Imran Valiani is an account manager at Rush PCB.