The quality of your supplies needs to be consistent - your customers associate poor quality with you, not your suppliers. Remember - if they let you down, you may let your customer down. Buying from only one supplier can be dangerous -where do you go if they let you down, or even go out of business?Įqually, while exclusivity may spur some suppliers to offer you a better service, others may simply become complacent and drop their standards. However, it's important to have a choice of sources. you may be able to make deals that give you an extra competitive advantageįor example, if you've got a rush job for an important customer, your suppliers will be more likely to go the extra mile if you spend $1,000 a month than if you spend $250.your business will become more important to them.it will be easier to control your suppliers.Buying from a carefully targeted group could have a number of benefits: It's well worth examining how many suppliers you really need. So when you are looking for suppliers, it's best to be sure of your business needs and what you want to achieve by buying, rather than simply paying for what suppliers want to sell you.įor example, if you want to cut down the time it takes you to serve your customers, suppliers that offer you faster delivery will rate higher than those that compete on price alone.įor some pointers to help you identify what you want from suppliers, see the page in this guide on what you should look for in a supplier.
The most effective suppliers are those who offer products or services that match - or exceed - the needs of your business. Thinking strategically when selecting suppliers Getting the right supplier for your business.Thinking strategically when selecting suppliers.
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