I'll chime in as a vendor.
Personal relationships aren't always terrible when dealing with us. I'm not going to suggest that taking lunch with the same salesguy everyday is acceptable, or that finding season tickets to the local football team on your desk before a big project is legit. But within reason, if you find a salesperson who you trust, who has been able to help you solve problems, supply a good product, who has expedited orders, come out in the middle of the night to check things out, stick with him. Service like that is hard to come by. Think about the time your vendor has spent working for you. That is time that could have been spent with another account. That time is an investment in any future sale to your plant.
The comments about knowledge are right on the money. Sales guys who have great relationships with the reliability/maintenance group love it when the project engineers call only for a quote and not for advice. That means that at start-up or within 6 months, they will be back out there selling more product as they help to fix the problems the project guys created by going cheap or by ignoring suggestions.
As a vendor contracted to be on-site, I'd love nothing more than to help get things right the first time. What better way to make my products look good? But when, as recently happened, the projects group (more contractors) went cheap on a pump and spec'ed a boiler feed water pump with a standard bore seal chamber and didn't spec the flush plan that we had suggested, the maintenance budget had to pick up the pieces- replacing several seals and purchasing 6 seal flush coolers.
Not all of us are out there to overcharge and underservice you.
Lastly, I recently heard a great quote- "Is your (fill in the blank) vendor selling (fill in the product) or doughnuts?"