If you get cheap products from your suppliers, you are likely to make more profit. This does not mean that you sacrifice quality for cheap products. What you must understand is that you can continue providing quality services to your customers while at the same time acquiring them at a better price from your suppliers. The key in cutting down costs from suppliers, is establishing where you can get the supplies in more quantities at the same price you are getting them now. A good businessman/woman should know all the suppliers in the neighborhood and strive to develop a relationship with them. From this group of suppliers, you can now identify the best for a long term relationship. However, the best places for bargains are from the manufacturers themselves. Even the suppliers in our neighborhoods get their goods from such manufacturers, after which they charge a fee as their profits. This goes without saying that if you get direct supplies from the manufacturers, you have more income as profits. It is important that as you stock your business, avoiding going overboard by buying in very large quantities. Some people do this thinking that they will save a lot on the costs that go with reordering. Make sure that what you stock will be sold within the expiry period. This means that you must take time to do a quick inventory of what you business needs; do not be in a haste to order even what may be unnecessary at the moment. Reuben is a practicing financial coach Click Here, learn more Article Source: EzineArticles.com@@ADSENSE@@.Supplies Management by Reuben Ochieng
28.12.16 12:20 PM
If you get cheap products from your suppliers, you are likely to make more profit. This does not mean that you sacrifice quality for cheap products. What you must understand is that you can continue providing quality services to your customers while at the same time acquiring them at a better price from your suppliers. The key in cutting down costs from suppliers, is establishing where you can get the supplies in more quantities at the same price you are getting them now. A good businessman/woman should know all the suppliers in the neighborhood and strive to develop a relationship with them. From this group of suppliers, you can now identify the best for a long term relationship. However, the best places for bargains are from the manufacturers themselves. Even the suppliers in our neighborhoods get their goods from such manufacturers, after which they charge a fee as their profits. This goes without saying that if you get direct supplies from the manufacturers, you have more income as profits. It is important that as you stock your business, avoiding going overboard by buying in very large quantities. Some people do this thinking that they will save a lot on the costs that go with reordering. Make sure that what you stock will be sold within the expiry period. This means that you must take time to do a quick inventory of what you business needs; do not be in a haste to order even what may be unnecessary at the moment. Reuben is a practicing financial coach Click Here, learn more Article Source: EzineArticles.com@@ADSENSE@@.