These May Seem Obvious, But Are Suppliers Consistently Checking All The Boxes?

In Corporate Real Estate, selecting the right suppliers is crucial for ensuring the success of projects and operations. While the values I outline below may seem obvious when evaluating potential suppliers, the question remains: are suppliers consistently checking all the boxes? Here I explore the main key values that Corporate Real Estate buyers need to look for in product suppliers.

Quality and Reliability

One of the primary considerations for corporate real estate buyers when selecting suppliers is the quality and reliability of their products. Buyers want assurance that the products they invest in are well-made and dependable, capable of meeting their organization’s needs over the long term. However, achieving consistent quality and reliability can be a challenge for suppliers, particularly as market demands and technology evolve.

Cost-effectiveness

While cost is an important factor in purchasing decisions, buyers also prioritise cost-effectiveness (or value). They seek suppliers who offer competitive pricing without compromising on quality or reliability. However, achieving the right balance between affordability and value can be tricky for suppliers, especially in industries where margins are tight and competition is fierce.

Customer Service and Support

Perhaps one of the most challenging in terms of being consistent, responsive customer service and reliable support are essential for ensuring a positive experience for buyers. Suppliers who prioritise customer service and support can differentiate themselves from competitors and build trust with their clients. However, providing exceptional customer service requires ongoing investment in training, infrastructure, and resources, which not all suppliers may be willing or able to commit to.

Innovation and Technology

Innovation and technology play an increasingly important role in the Corporate Real Estate industry, with buyers seeking suppliers who offer innovative solutions that can help them stay ahead of the curve. However, keeping pace with technological advancements and market trends requires continuous research and development, which can be resource-intensive for suppliers.

Sustainability and Ethical Practices

With growing awareness of environmental and social issues, buyers are placing greater emphasis on sustainability and ethical practices when selecting suppliers. Suppliers who demonstrate a commitment to sustainability and ethical business practices can appeal to environmentally and socially conscious buyers. However, implementing sustainable practices throughout the supply chain can be challenging and may require significant investment and collaboration with partners and stakeholders.

Compatibility and Integration

Buyers value suppliers whose products seamlessly integrate with their existing systems and workflows, minimising disruption and maximising efficiency. Suppliers who prioritise compatibility and integration can help buyers streamline their operations and achieve their goals more effectively. However, achieving seamless integration often requires close collaboration between suppliers and buyers, as well as ongoing support and maintenance.

Long-term Partnership

Finally, in my experience buyers ultimately value suppliers who are willing to build long-term partnerships based on mutual trust, respect, and collaboration. Suppliers who invest in understanding their clients’ unique needs and goals can develop customised solutions that deliver value over the long term. However, building and maintaining strong partnerships requires consistent communication, transparency, and a willingness to adapt to changing circumstances.

While the values that Corporate Real Estate buyers look for in product suppliers may seem obvious, achieving consistency across all these areas is without a doubt challenging. To meet the expectations of buyers, suppliers need to prioritise quality, reliability, cost-effectiveness, customer service, innovation, sustainability, compatibility, and long-term partnership. By achieving all of this, suppliers can differentiate themselves from competitors, build trust with clients, and ultimately drive success with growth and the bottom line.