Points to Remember When Working with Single Supplier
Some companies do follow the strategy of working with single supplier. Others use the strategy of working with more then one supplier which we might call it Multi Supplier. For instance, many companies in Oman are working in a method that they release a Quotation with a minimum of three applying for the Quotation and they select the best one based on the cost and advantages. Some companies highlight that this is a time consuming. Others would prefer working with single supplier and provide him the opportunity to understand their business better and the culture of the company. Although they are advantages working with one supplier, they are disadvantages which I would like to highlight in this article. From strategic point of view, Never put all your eggs in one basket. Do not try working with only one supplier. 1) This is too risky as your business will be limited in only one channel. 2) Missing opportunity of learning and knowledge: by working with one retailer you ...