A few suppliers or random purchases?
Many companies rely on just a few suppliers/wholesalers within their line of business - for instance for office supplies, materials, or products for resale. Others do their purchases when needed from multiple random suppliers. There is no right or wrong. It all depends on your business’ needs and the way you prefer to run business.
That said, we recommend that you structure your purchases and choose suppliers so that you:
- Don’t run out of materials or products crucial for your daily operations.
- Know your delivery times and payment terms.
- Pay the right price for your goods.
- Can track your purchases for bookkeeping and check of budgets.
- Can handle payments quick and easy.
- Don’t spend too much time on tracing special offers - but instead...
- Negotiate fixed discounts or other favorable terms for your goods once and for all.