Suppliers and purchasing

At Gibbons Mannington & Phipps we can provide start-up businesses with help and advice. Here are some basic considerations regarding suppliers and purchasing.

When it comes to building a market and servicing it, you and your suppliers are on the same side, so you should consider trying to build a relationship with them that reflects that.

Sit down with them as 'partners' and try to work out an arrangement that benefits both parties.

Try to identify:

  • Products you can order in larger volumes in exchange for volume discounts
  • Orders you can discontinue because you can buy more cheaply elsewhere
  • Ways to revise delivery schedules to reduce your stock keeping costs
  • Opportunities to share marketing or promotional costs
  • Ways you can exchange information to improve efficiency at both ends

In a period of economic difficulty or uncertainty, remember that suppliers might raise their prices, so try to negotiate a long-term discount with them.

You could also consider putting all major costs out to tender on a regular basis.

If you are starting a business and would like help and advice, contact Gibbons Mannington & Phipps.

Accessibility | Disclaimer | Terms of Business | Privacy | Help | Site map |

© 2024 Gibbons Mannington & Phipps LLP. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Gibbons Mannington & Phipps LLP, 20 Eversley Road, Bexhill-on-Sea, East Sussex TN40 1HE
Gibbons Mannington & Phipps LLP, 24 Landgate, Rye, East Sussex TN31 7LJ
Gibbons Mannington & Phipps LLP, 82 High Street, Tenterden, Kent TN30 6JG

GMP Audit Limited, 20 Eversley Road, Bexhill-on-Sea, East Sussex, TN40 1HE

Registered to carry out audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales.
Details about our audit registration can be viewed at www.auditregister.org under reference number: C006045200

Company registered in England & Wales Number : 11309384

QuickbooksSage