Suppliers and purchasing

At Facts & Figures we can provide start-up businesses in the Edinburgh area with help and advice. Here are some basic considerations regarding suppliers and purchasing.

When it comes to building a market and servicing it, you and your suppliers are on the same side, so you should consider trying to build a relationship with them that reflects that.

Sit down with them as 'partners' and try to work out an arrangement that benefits both parties.

Try to identify:

  • Products you can order in larger volumes in exchange for volume discounts
  • Orders you can discontinue because you can buy more cheaply elsewhere
  • Ways to revise delivery schedules to reduce your stock keeping costs
  • Opportunities to share marketing or promotional costs
  • Ways you can exchange information to improve efficiency at both ends

In a period of economic difficulty or uncertainty, remember that suppliers might raise their prices, so try to negotiate a long-term discount with them.

You could also consider putting all major costs out to tender on a regular basis.

If you are starting a business in the Edinburgh area and would like help and advice, contact Facts & Figures.

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Registered in Scotland, No. SC149558, Registered office, 4-6 Polwarth Gardens, Edinburgh, EH11 1LW. Facts & Figures is the trading name of Facts and Figures (Scotland) Ltd. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants

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Facts & Figures, 4-6 Polwarth Gardens, Edinburgh EH11 1LW
Facts & Figures, 46 Craighall Road, Edinburgh EH6 4RU
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