Is it wrong to have one supplier for your business?

[King Belieal]

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?

 

[Stardom22]

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

 

[Shavkat]

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.

 

[Fidelia]

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]

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

 

[cherry123]

Nothing is wrong in having a supplier but you know we always have to he proactive. you don't have to depend on a supplier to avoid disappointments

 

[Springtime]

I think it is okay to work with one single supplier if it is reliable. That said, on the safe side, you should always check for alternatives should anything go wrong with your regular supplier.