Are you feeling overwhelmed when it comes to handling multiple different business suppliers? Having multiple vendors rotating in and out of your store can lead to excess stress. You have to juggle what you’re running low on and who delivers what and when they deliver.
But there are ways you can manage your business supplies, cut costs, and ensure that you always have what you need on hand.
Here are six pro tips for managing your business suppliers.
1. Build a Relationship
Building relationships with your suppliers comes with benefits.
If you show that you appreciate them and you need them as much as they need you, they can work to get you to lower costs.
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2. Ask for Auto-Ship Options
If you know exactly how much of any item you use every month, as your small business suppliers about auto-ship options.
They will automatically deliver the specific products you request at a certain time. You might even get a discount because you’re guaranteeing money every month for them.
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3. Delegate Certain Suppliers to Other Employees
If you find yourself overwhelmed by handling so many different informal business suppliers, then you can try delegating.
For instance, say you run a retail location. Take one of your trusted employees and have them be in charge of a specific section for ordering. It takes stress off of you and allows the employee to build some inventory experience.
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4. Plan for Emergencies
Don’t count on every month to run smoothly. Talk with your suppliers about times when you need emergency orders.
It is better that you know ahead of time who you can contact in the event that something goes wrong.
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5. Utilize Technology
Technology allows you to track your inventory and see how much of a supply you’re using every month. By utilizing this software, you can send automatic updates to your supplier for when you’re getting low.
Rather than having to call to place orders, they can send a quick email asking if you’re ready for your next shipment.
Check out this supplier management software for your business.
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6. Cancel Contracts When Necessary
Not every supplier is going to meet your expectations. In fact, if you’re finding yourself constantly complaining about a supplier, you should end things before they get worse.
Contact the company to see if they can improve how they’re treating you. If you can’t come to a solution, it is time to let them go. Try to have another supplier lined up to avoid losing out on much-needed supplies.
Managing Business Suppliers Doesn’t Have to Be Hard
When it comes to managing business suppliers, you need to put your company first. Don’t let yourself be walked over and risk losing money. Build a relationship with your suppliers and make sure that they know that they need you as much as you need them.
If you want to learn more about managing your business, then be sure to check out the rest of our blog. Do you know a business owner who complains about their suppliers? Share this article with them so they can try to fix that relationship.
