Is it wrong to have one supplier for your business?

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King Belieal

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• Apr 23, 2024

• #1

I thought that it is good to be consistent in the way you run your business and that also involves having a steady supplier for your business. But people say that it is a bad business practice to have one supplier for your business. Is it wrong to work with one supplier?

How do you manage multiple suppliers for your business?

 

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Stardom22

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• Apr 23, 2024

• #2

Of course yes. lt can ditch the business into bankruptcy due to the lack of supplies in case the supplier fails to supply.

 

Shavkat

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• Apr 23, 2024

• #3

It depends on the kind of business being launched and operated. If they need to outsource, then it is best to have suppliers to continue their operation and sustain their profit.

 

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Fidelia

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• Apr 23, 2024

• #4

There is nothing like consistency in having just a single supplier for your business. It is a recipe for disappointment and you would be heavily disappointed.

 

nomad

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• Apr 25, 2024

• #5

If you are getting better deals, there is nothing wrong, however, to be on a safe side, you should also have second supplier