Hey Vendorville, what’s going on y’all?

Quick question: When did you last look at your supplier contract?

Here’s a little evaluation, multiple choice style:

A. Please chill, I don’t need another thing to worry about. 😭

B. When I signed it… I signed, right? 🫣

C. Don’t need to – it's memorized. 🤓
D. Er, what’s a supplier contract? 😬

Just like in those magazine quizzes from the early 2000’s, here's what your answer says about you:

If you answered A: Put in some PTO - like now. And then, when you get back refreshed from your staycation, pull up your supplier contract. 🌴

If you answered B: Your name may not be on the dotted line, but your company and anyone representing your entity is on the hook for the details outlined. You don’t have to read cover to cover, but there’s important information for each supplier team.

If you answered C: It sounds like you have an eidetic memory. Consider leaving the supplier life for a top law firm in Manhattan; sans a law degree. Heard Pearson Specter Litt LLC is hiring. 👀

If you answered D: A Supplier Contract is exactly what it sounds like. It’s a legal document outlining your agreement to adhere to Walmart's supplier standards.

A supplier agreement applies to anyone supplying products to Walmart for resale and any agents used by suppliers.

No matter what you answered, it’s worth reviewing your supplier contract. Whether you handle one or multiple retailers, these contracts might be the key to strengthening your business, hidden within the legalese.

Here’s what you need to look for in your supplier contract. 📃

1. Find it. 🔎 It seems simple enough, but each Vendor and supplier team may handle these differently. Here’s a few paths to supplier contracts:

Walmart > Retail Link > User Profile > My Agreements
Target > Partners Online > Apps and Reports > TVI
Amazon > Vendor Central >Settings > Agreements

Still can't find it? Talk to your site admin to get access.

2. Look at the table contents. 📑 Contracts at this level are going to be daunting. The best place to start is by highlighting the sections that seem prevalent to your role and any terms you may not know.

On April, 4th we’re covering these sections of Walmart’s Supplier Agreement in this webinar.

Payment Terms; Cash Discount; Audits
Purchase Cost and Conditions
Supplier EDI Responsibilities
Appendix

3. Read between the lines. 📕 Contracts are meant to be agreed upon by both parties. Working with major retailers often feels like there’s no wiggle room for pushback. However, consider reviewing these sections - some suppliers have been able to negotiate in these areas.

One-time settlements for past deductions
Having a smaller window to be paid on an invoice
If and when cash discounts are applied
Lower percentages for allowances

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Rick’s Tips 💘

If you’re new here, Rick is SupplyPike’s helpful mascot, full of tips and tricks for all things around revenue loss. His full name is Mr. One-Click Rick, and if you don’t include the hyphen, well … let’s just say Rick’s a lover, not a fighter, but he’s also a fighter, so don’t get any ideas.

“Heard of 1WorldSync? SupplierWiki has one last live webinar with the primary content syndication team. Join live to get your questions answered by the Chief Product Officer at 1WS."

"You can check out the past recordings from this series on SupplierWiki."

Let’s Circle Back 🌀

If you’re an avid NYT Times Gamer like the 250,000 other people, this supplier-coded version of Connections was crafted for you!

We highly recommend making one for the jargon your team uses every day. At least then, you’ll get a perfect score. 🥲

Got a second? Let us know what educational content we should cover.

❤️ Sincerely, Your Friends in Vendorville

SupplierWiki

Supplier contracts: what's the verdict?