Having competition is important. It makes business to improve their product and service to survive.
Importance of Having more Suppliers in Business
- Thread starter Hate2Wait
- Start date
I Think that when you have more suppliers in the business, you tend to have a much better approach when it comes to having a huge collection of products for sale in the market.
That's true, in industries it happens sometimes a supplier may not be able to fulfill the demand so it may be helpful to have two suppliers for the same material. I have see such situation when having two suppliers for an item turns out to be very handy.
When you have more suppliers, it gives you solid options in case of disappointment from one supplier.
Yes, I agree with your approach here. If you have just a single supplier and they fail to meet your requirements on time - your business will suffer greatly, thus it is better to have more suppliers for better brand image.
Sure it is good to have good suppliers for our business it will help one to have products onntimr just as needed
That's the life of a business owner. They are always stressed.
1. Improved Quality: Having more suppliers means that businesses can compare quality and prices from different sources, allowing them to choose the best option for their needs.
2. Increased Competition: Having more suppliers can create more competition, which can lead to better prices and services.
3. Increased Flexibility: With multiple suppliers, businesses can switch suppliers more easily if one fails to meet their needs.
2. Increased Competition: Having more suppliers can create more competition, which can lead to better prices and services.
3. Increased Flexibility: With multiple suppliers, businesses can switch suppliers more easily if one fails to meet their needs.
When you have many suppliers in your business, you are building a safety net that would ensure that you always have stock.
