By Sid Chadwick, Chadwick Consulting, Inc. – 07/17/2020
Published in American Printer

“The Purpose of a business… is to create… and keep… a Customer” ……………….Peter F. Drucker, Consultant, Writer, Professor

INTRODUCTION:

confusedYour Customers don’t know…. all that you could produce and manage for them. They only know…. what they’ve bought from you….!

Your Suppliers hold a similar reverse position…..You only know what you have bought from them…and not….. what they could supply you…..that would improve your top and bottom lines……!

Here’s my “Checklist”… waiting for you — to discover — from your Suppliers — that guarantees to increase your organization’s bottom-line performance:

  1. a. Do you invite your Suppliers — to improve their pricing and service — for Major ProjectsOR… Does your Estimator… not have time to call them…?
    b. Do you get different answers — from different people — at those critical Suppliers….when you call for better pricing consideration…? …(How often do you… go up the ladder…?)
  2. Some of your Suppliers are capable of conducting  “Plant & Office-related Audits”…! (e.g., Energy, Safety, Materials Handling, Fulfillment, A/P) (One of our client’s Suppliers recently uncovered a problem — that saved them a guaranteed fine, if not also an employee injury.) Note: for every dollar you are able to save — is generally worth at least $20+ in extra revenues….!
  3. checklistMost suppliers would treasure opportunities to come into your company — and provide “Education & Training”; have you… Invited them…..?
  4. Have you asked, “What do you have that we should be using, but aren’t..?” “What are you not providing us…with an immediate ROI…that you believe we could use… but don’t…?”  “How do you see us different from your other customers….?” “Do you know our objectives….?”
  5. Have you asked, “When do you have “Special Terms” available….?”(Almost all Suppliers…. offer “Special Terms”.)
  6. Have you asked, “On what products…or conditions…. do you offer Special Quantity Discounts… or… Rebates…?”(“All Suppliers offer Special Quantity Discounts & Rebates….!….Can we create such a Program?”)
  7. “Since you call on many Customers we might serve, could you provide us with a Referral… or two”…..several times a year? (Many Suppliers — can…and do….!)
  8. Do any of your Suppliers provide…”Targeted Vertical Customer Mkt. Analysis …and…Sales Literature”.that we might use….?
  9. What products you now use — are supplied (even partially supplied) by Chinese suppliers….? Note: you should know…in order to not suddenly be without a critical supply item.
  10.  Have you reviewed opportunities to, Consolidate Suppliers”….? (For every supplier you no longer need, there are opportunities to develop performance and value…. not previously captured.)

SUMMARY

Major Supplier Reviews — tend to uncover opportunities — that benefit — both organizations.

Your company’s performance CAN be improved — through your suppliers’ contributions — of many different designs.

(At least) one of our clients — recently went to key Suppliers… asking for needed….improved pricing — especially on major projects — and Got It…..is no miner observation.

Another knocked-down about $12,000 on a freight bill…..by checking alternatives…..the list is almost endless.

Additionally, your Suppliers’ observations… and collaborative suggestions….tend to represent an ongoing gold mine…waiting…. to be mined…!

The same is true…from… your employees…and your Customers…..!

Conditions are changing….weekly…if not daily…..Are we tapping observations…and suggestions….. of those who have a stake — in returning us…. to prosperity…..?

What are your Suppliers…..wanting to accomplish….with you….?

“…The recent resurgence in Covid cases is a sober reminder that the pandemic remains the key driver of the economy’s course…”….Federal Reserve Board of Governor’s Spokesperson, The Wall Street Journal, July 15, 2020.

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