Buyers have different levels of relationships between designers and suppliers throughout their careers. Some are more formal than others and the degree of commitment may differ. Relationships that are built depend on two main concepts.
1. The extent of resources and investments that are committed to the relationship.
2. The formality of the relationships, whether it’s long term and franchises or quick spot contract relationships.
There are three main types of vertical relationships (reasons for relationship building).
1. Long term contracts. These involve series of contracts over a long period of time.
2. Vendor partnerships.
Honesty and integrity are extremely important when creating relationships that involve one’s large amounts of money, time, work ethic and representation.