If a key customer is also a preferred customer, orders would be prioritized, according to 70% of respondents if to HICX study. Further, 73% would go the extra mile for one designated customer of choice.
However, 61% say it’s difficult to deliver their best for key customers, with 60% feeling they spend too much time on customer-driven admin, and 47% struggle to get enquiries resolved.
“The collective knowledge that suppliers possess represents significant value and competitive advantage, however, suppliers can also be a source of potential risk. At the end of the day, we need suppliers. We’re stronger for their information. We benefit from their innovation, and we can do with their support. The relationship is not a zero-sum game. So, we should consider how best to work together,” says Costas Xyloyiannis, CEO of HICX.
- Over 500 suppliers – all of whom serve some of the biggest brands in the world across the consumer packaged goods (CPG), fast-moving consumer goods (FMCG), aerospace, defense and energy sectors - shared how they perceive their most important customers.
- When asked what would most improve the relationship with their most important customers, communication issues top the poll, with 25% of suppliers indicating that they need more relevant information and feedback from major customers.