Are you secure in your vendor relationships?
Are you safely diversified in the number of vendors used by your company?
Do your sales and purchasing staffs understand the value of using different vendors?
Without sales, no operation can succeed. However, frequently, a largely sales oriented operation misses out on the many benefits that can accrue from superior vendor relationships, and from attention to purchasing methods. Often the success or failure of a contract bid depends upon the services your vendors can supply in support of your efforts. The use of specific vendors should reflect the services provided, in addition to the given standards of competitiveness, reliability, and quality. Never underestimate the importance of developing the personal relationships with your vendors that will lead them to want to go above and beyond the call of duty.
The LPA partners have had experience working with small vendors, where our company was a large percentage of the vendor’s overall revenue, and working with large global businesses, where we were among thousands of customers. At the onset of our management tenure, over eighty-five percent of our product was sourced from only one vendor. Within a short period of time, no one vendor exceeded thirty-five percent of our supply and product was being sourced from the best suppliers around the world. Our experience with vendors of all shapes and sizes has enabled us to develop ways to work with your suppliers to enhance your bottom line.