Matthew Stanley, Accounts Director, Coast to Coast Direct
How can we reduce our businesses operational costs for the products and services we use to keep our offices running smoothly?
Proactive suppliers should be talking to their customers about consolidation of supply – making them aware of the other products and services they offer that aren’t traditionally within their remit and that their customers may be getting from other suppliers. Supplier Consolidation is the process of reducing suppliers to focus on the best suppliers within the broader market. If you can get a wider range of products from one supplier rather than several, then there can be advantages as long as it is done properly with trusted suppliers who know what they’re doing.
The ‘soft costs’ associated with managing multiple suppliers can be reduced by improving efficiency and having lower transactional costs. Fewer suppliers means lower costs in setting up purchasing systems, sourcing the right products from the right suppliers, completing transactions, receiving deliveries, paying invoices and managing the relationships between each supplier.
Fewer suppliers to manage makes it easier to build stronger relationships with the suppliers you retain, and the better your relationship the more bespoke the service becomes and the more value they can add to your business. Your supplier will be getting a larger market share of your business too, which should lead to a reduction in prices they can offer you across the broader range, and you’ll save time too by not having to shop around.
At Coast to Coast we’ve hired industry specific specialists to set up new departments in-house to bring experience to the team and add credibility to our new offerings, allowing us to offer a true consolidated service to our customers. This has led to us winning business in new areas whilst also saving our customers time and money.
For more information, please call Matt on 01903 236863 or e-mail firstname.lastname@example.org