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.

 

[Bisolami]

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?

I feel this is wrong because one supplier for your business may not make you have all the goods. There are some times when the person may not have some particular goods and you’d need to get from another supplier

 

[Tracee1]

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?

in my business I have multiple suppliers and each of them have their advantages, there are some I go to when I need ASAP supplies, there are the ones who can get me affordables, so it's never a bad idea to have more than one supplier for a particular commodity.

 

[Stardom22]

For me if the supplier doesn't have the business products, the business can remain unattended.

 

[Bisolami]

in my business I have multiple suppliers and each of them have their advantages, there are some I go to when I need ASAP supplies, there are the ones who can get me affordables, so it's never a bad idea to have more than one supplier for a particular commodity.

Having one supplier is surely going to disappoint you so it is always better to make sure that you have more than one supplier so that you can always have where to fall back to if one disappoints you

 

[freelancermaria]

It is totally okay to depend on a single dependable supplier. Nevertheless, it is essential to be prepared for any unforeseen issues and have a backup supplier in mind.

 

[Shavkat]

It is totally okay to depend on a single dependable supplier. Nevertheless, it is essential to be prepared for any unforeseen issues and have a backup supplier in mind.

You are right. We need other options if the loyal supplier cannot provide their products. Sometimes it does happen in the real world.

 

[King Belieal]

Everything in life has a backup. And businesses must have backup suppliers because there is nothing that is guaranteed.

 

[Starmix]

Of course, you need many suppliers so you can decide which one is authentic and accurate in delivering the products. You will also know the supplier that has a good attitude and gives a discount.

 

[Ratine]

In my opinion l think it's very wrong for one to have a single supplier for the business. That's because in case of absence the business can suffer losses.

 

[eldavis]

There is notting wrong with having a single supplier, but it also has it's disadvantags. In a situation where your supplier cannot provide what you need, it might lead to you disappointing your customers

 

[Ratine]

I think that not conveniently for me. I would have more than two suppliers for my business.

 

[Sanjeev]

Yes, single vendor is not good for the business, we should have two or three vendors so that if one vendor stops supplies, your business doesn't hamper.

 

[Starmix]

You can opt to have two or three products suppliers so you can do compare and contrast strategy as to which of them has the best products yet affordable.