Finance Connect Podcast: Alan Day on why supplier relationships matter more than ever

The latest episode of the Finance Connect European Equipment Finance Podcast, sponsored by Alfa, is now available, featuring Alan Day, founder and CEO of State of Flux and one of the world’s leading experts on supplier relationship management.

Joining host Richard O’Donohue, Day explores why organisations need to rethink the way they work with suppliers in an increasingly uncertain world, arguing that collaboration, trust and effective supplier management are becoming critical competitive advantages.

Drawing on more than two decades of research covering over 4,000 organisations, Day explains why only six per cent of businesses excel at supplier relationship management despite suppliers playing an increasingly important role in delivering customer experience and business performance.

The discussion examines how outsourcing, servitisation and increasingly complex supply chains have transformed the role of suppliers, with many organisations now relying on third parties for a significant proportion of the customer experience they deliver.

Day also discusses how businesses can become a “customer of choice” for strategic suppliers, highlighting the benefits of stronger partnerships, including greater access to innovation, faster speed to market, improved service and preferential treatment during periods of disruption.

The conversation explores why traditional procurement approaches often fall short, why supplier relationships should be treated more like strategic partnerships, and how organisations can move beyond contract management to create long-term value through collaboration, governance and behavioural change.

Another key topic is payment terms and their impact on supplier relationships. Day challenges the common practice of extending payment periods to improve cash flow, arguing that the short-term financial benefit is often outweighed by the long-term damage to supplier trust and collaboration.

For equipment finance providers and technology businesses operating within increasingly interconnected ecosystems, the podcast provides valuable insights into building stronger supplier relationships that enhance resilience, innovation and long-term growth.

The full episode is available now on the Finance Connect European Equipment Finance Podcast, sponsored by Alfa.

Listen here: https://finance-connect.com/european-equipment-finance-podcast/