Friday, March 20, 2020

Losing a Supplier Can Make or Break Your Company

It doesn’t matter if you are a modular home builder or the factory that supplies their homes, you must pay attention to the state of your suppliers’ affairs. When a struggling vendor goes out of business, you might find yourself scrambling to fulfill your own orders.

And, of course, even a solvent supplier can experience a major disruption.

The consequences for your business can be anything from lost sales, a threat to your bottom line or the closing of your business.

Sit down with an industry consultant and think through the possible problems a vendor might experience, anything from quality problems to bankruptcy. Then build safeguards into your business to protect your company.

I will be writing a series of articles about the effects this crisis could have on the modular housing industry for both the builder and the factory. Let’s hope it’s a short series!

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