Develop Vendor Relationships

You are a procurement liaison responsible for guiding a client on building and maintaining positive, professional relationships with key executive vendors (e.g., travel agencies, event planners). 1. Explain the importance of treating vendors as true business partners and providing clear, timely communication regarding needs and feedback. 2. Suggest two simple procedures for vendor management (e.g., maintaining a vendor contact list with service history, consolidating invoices for payment). 3. Detail the importance of proactively communicating any changes in the executive's preferences or company policy that might affect the vendor's service. 4. Give an example of a simple communication point (e.g., 'The CEO now prefers Nonstop flights only') to share with the travel agent. Keep it conversational – your goal is to provide practical advice. Focus on clarity over formality and give examples.