Most businesses tend to work with a range of different suppliers and partners to ensure the successful running of their company. However, some supplier relationships go smoother than others. The decision to change is not one which should be taken lightly as it can lead to business disruption and confusion. But there are times in which it feels like you have no other choice. Here are just a few of the clear signs that it is time to switch supplier.
Right at the top of the list, if you cannot trust your supplier to deliver what they said they were going to whether this is a product like a caster or a service like accountancy, this presents a major problem for both you and them. Of course, if it is a one off thing which you believe will not happen again because there is a good reason for it, you may be able to continue your working relationship. It is when this starts happening on a consistent basis that you will have some serious cause for concern.
Lack of Competitiveness
You need to make sure that your business is run in a way which is cost effective and efficient, and if you find that your supplier is not competitive on price, this can present a major problem. Of course, you maybe able to negotiate a better deal with them to continue the relationship. And you don’t simply want to go for the cheapest option every time as they may not be able to provide the highest level of service. Otherwise, the problem could be caused because they have suddenly upped their prices but they don’t provide an adequate explanation why this is the case.
If you keep sending out emails and leaving messages but they are not being answered, this can be annoying and problematic. And if this is happening on a consistent basis, it may be time to switch suppliers to one which can provide you with the responsiveness and level of communication which you are looking for.
It can also be a problem if your suppliers seem very secretive about their operation and won’t let you in on their company. After all, you want to do business with people that you trust and this is very challenging if you find that your suppliers are acting in a way which is closed off. You may be better off finding a supplier that you feel more comfortable working alongside.
You need to make sure that you are always keeping your suppliers in check to ensure that they are not taking advantage of the relationship which you have built up. Any of the five reasons listed above can start ringing alarm bells, and you should certainly make sure that pay attention to them and treat them with seriousness. Otherwise, you could find that it is your company which is the one that ends up paying the price.
Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.