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Business strategy
How to deal with issues of unreliable suppliers
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[QUOTE="Etini, post: 283834, member: 90141"] There is nothing that is painful in business as making payment for stock and not getting them delivered as at when you need it. It can be so frustrating. The effect is even worse in production businesses because it would hamper your production, delay your customers and strain your revenue. It is very important to have reliable suppliers. Some of the suppliers, when there is a huge demand in a particular period, they would take money from you and rather prefer to supply another person that is ready to pay a higher price than you have paid, thereby holding your business to ransom. The solution is to adopt a pay on delivery approach with your suppliers. While doing that, you have alternative suppliers in case your main supplier fails. Failed supply can make you to miss your business targets and disappoint your customers and clients. Even systems have backups. As a businessman, you should have a backup. [/QUOTE]
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