24 Mar Former Morrisons Chairman, Sir Ken: Good, Long Term Suppliers Key to Retail Success
Flicking through the channels last night, I stumbled across the BBC’s mid-evening current affairs slot-filler, Inside Out. They were commenting on Morrisons’ rise and – more recently – fall.
In between the usual vox pops and shots of nondescript shoppers filling their baskets, was a short piece of archive footage from Former Morrisons Chairman and son of Morrisons’ founder, Sir Ken Morrison:
“You need good employees, you need good suppliers, you need loyal customers. If you fill those three categories with long term people, you’ve got a winner.”
Sir Ken is not alone in his understanding of the importance of long-term relationships with suppliers. Recently, my colleague James shared how – after a visit to the Walmart museum in Bentonville, Arkansas – he came to truly appreciate how central supplier relationships (and a people-centric approach to business) were to Sam Walton’s original vision for Walmart.
Supplier Engagement is nothing new. Sir Ken and Sam Walton prove this. But if recent news and bruising coverage of supermarket culture tell us anything, it is certainly due a return to centre stage.