Investing in a new supplier

Investing in a new supplier

Finding new suppliers always involves a certain amount of consideration as, not only is it an investment of both time and effort, it also carries a certain amount of business risk. This is especially true in the first instance as anything the supplier is delivering for you, in goods or in services, provides part of the package that you are ultimately presenting to your client.

Anything not up to scratch exposes you to your client and threatens your relationship and any future business activity with that party. It's a risky business hence the need to be certain that you're making the right call.

A disappointing supplier is also a source of potential damage to your brand and reputation. We now inhabit a 'social' world. The customer no longer complains solely to the service or goods provider - they can make their complaints known on Facebook, Twitter or any other of the numerous social media and web-based platforms, sharing their comments with the widest possible audience within a couple of clicks.

Many companies stay with the same suppliers long after the relationship has gone stale to avoid the danger of the unknown but, in some ways, making no move at all is just as risky as jumping too fast. As with any long-term relationship, things can get a bit complacent and with complacency comes mediocrity.

At Saracen, we are constantly reviewing and adding to our supply chain. We have long-term significant relationships that have lasted the distance because those suppliers value quality and delivery as much as we do and we know they won't let us or our clients down. That doesn't stop us dipping in to check that we're getting the best in service and cost on a regular basis and that the supplier's own market is retaining an appropriate level of stability.

Ultimately, our main requirement is that the individual supplier is focused on our needs and retains an understanding of those needs even as they fluctuate and change. We expect them to share our desire to continuously improve the performance of existing services and to be open to innovation.

Remember, the supply chain acts as an extension of the team - in some ways, it's one and the same - and a company is only as good as its team. If yours is lacking in anyway, then give us a call today.

Contact Saracen

Call our team on 0870 743 0925


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