Are you being sold the malarkey that it’s the same for everyone and due to current market conditions?
Today’s question is from Ron Southard, CEO at SafeSourcing Inc.
What is a fair price increase? What type of margin should your Manufacturer be making? These are tough but fair questions that you should be asking of them every day. So, maybe in some cases it’s time to consider other than single source of supply opportunities. Maybe in other cases it’s time to consider multiple Manufacturers in order to meet your service level requirements. What language can you add to your contracts that ensures that your prices don’t rise? What indices should you be leveraging in order to mitigate in contract price increases?
If you’re interested in keeping your costs in line with reality or maybe even getting better pricing and service, contact SafeSourcing because we have done this many times for many companies in many industries.