"Recession brings destruction, and with that opportunity".
Today’s post is a continuation of a post by Mike Figueroa, Account Manager at SafeSourcing.
Please view Part I of this post to understand this subject matter in its entirety.
Recession brings destruction, and with that opportunity, within the gaps created by those business changes. Many other firms have simply pulled back, and have less aggressive marketing, and are less aggressively pursuing new opportunities, new customers, and new products. Others have been effective in centralizing purchasing, locking in supplier commitment, and transforming their internal purchasing culture. All the above scenarios create opportunity savings for the suppliers.
But how do the purchasers take advantage of the changing business landscape?
A more aggressive survival of the fittest environment means the incumbent suppliers are more apt to make concessions in order to keep your business, making the market more competitive. That is, more competitive for your business. Furthermore, more suppliers are focusing on converting to leaner product management, meaning lowering inventories and overhead. The most difficult aspect of taking advantage of this is sifting through the overwhelming number of suppliers, and creating an environment that breaks down the pricing informational barriers, in order to promote competition for your business. How do you take advantage of this competitiveness in a way that’s safe, effective, and manageable?
That’s what we do. We do the research, the legwork, and bring the competitive environment to bear in a way that is risk free to the supplier, but high reward to the businesses that establish the purchasing relationship.
If you think your business could benefit from our managed sourcing solutions, contact a SafeSourcing customer services representative and we’d be happy to discuss your strategic options.
We look forward to and appreciate your comments