Get better deals from suppliers

At G P & S we can provide businesses in the Nottingham area with assistance and advice on a wide range of business issues. Here are some thoughts dealing with suppliers...

Are you reluctant to discuss your successes and failures with your suppliers? Do you worry that if they knew the facts they might change their perception of you and offer less favourable terms?

The truth is that most suppliers would prefer you to be frank with them and would be happy to work with you to adjust orders and deliveries accordingly. After all, they want your continued business and that depends not upon your buying more but upon your buying smarter.

Sit down with them as 'partners' and try to work out an arrangement that benefits both parties. Try to identify:

  • Products you can order in larger volumes in exchange for volume discounts
  • Orders you can discontinue because you can buy more cheaply elsewhere
  • Ways to revise delivery schedules to reduce your stock keeping costs
  • Opportunities to share marketing or promotional costs
  • Ways you can exchange information to improve efficiency at both ends

When it comes to building a market and servicing it, you and your suppliers are on the same side, so build a relationship with them that reflects that.

In a period of economic difficulty or uncertainty, remember that suppliers might raise their prices, so try to negotiate a long-term discount with them.

If you are in the Nottingham area and are looking for support and help from experienced accountants and business advisers, contact G P & S.

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0115 973 3389

Gregory Priestley & Stewart
Lyndhurst
1 Cranmer Street
Long Eaton
Nottingham
Nottinghamshire
NG10 1NJ

01623 555 656

Gregory Priestley & Stewart
Alexandra House
123 Priestsic Road
Sutton-in-Ashfield
Nottinghamshire
NG17 4EA