Jun 11, 2017 by Edward L. Blach, DVM, MS, MBA
Optimizing your relationship with suppliers can bring dramatic benefits. Not only can you save time by working with one primary supplier, but strengthening your relationship can bring significant financial benefits as well.
Consider that how you do business with them matters. Many distributors will provide optimized pricing if you agree to certain levels of loyalty, purchase specific days of the week, paying within certain time periods, and paying via specific methods. All of these criteria and others, when done correctly, can provide money-saving opportunities for both the supplier and the customer.
Here is how to take advantage of these opportunities:
- talk to your distributor representative
- ask about optimizing your business relationship to improve your purchasing power
- consider days that you purchase, how you pay, shipping requirements, loyalty levels, and payment terms as a start to improving your cost of goods from your primary supplier.
Reduce your Cost of Goods by optimizing your supplier agreements today!