Suppliers and purchasing

Building relationships with suppliers.

At Sheards we can provide start-up businesses in the Huddersfield area 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 in the Huddersfield area and would like help and advice, contact Sheards.

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Sheards is the trading name of Sheards Accountancy Limited. Registered in England and Wales: Company no. 06837228. Regulated by the Institute of Chartered Accountants in England & Wales.

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The registered office is: Sheards Chartered Accountants, Vernon House, 40 New North Road, Huddersfield, West Yorkshire HD1 5LS
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