A single source supplier can be a great idea – as long as you find the right partner. Rather than wasting time and resources shopping around you have access to one trusted supplier able to meet all your needs. From retail consumables to business supplies, a single source supplier is the optimum choice for ensuring that you have what you need to keep your business going on a daily basis. If you’ve been considering a single source supplier these are just some of the advantages of using one.

• Streamlining internal processes, such as invoicing and purchase orders. You can minimise the volume of documentation that your accounts team has to deal with when you opt for a single source supplier. Plus, think of all the time and money it actually takes to deal with lots of different purchase orders – all of this can be reduced when you opt for a single source supplier. These indirect procurement cost savings can be worth their weight in gold when times are tight.
• A much more efficient option. There are lots of ways in which a single source supplier offers efficiency improvements. For example, there will be far fewer deliveries to deal with, which is likely to take up less staff time, leaving your people free to focus on what they do best. And, when it comes to deliveries, if something goes wrong there’s just one point of contact and you don’t need to spend days running around after different suppliers and couriers.
• Ensuring consistency. There can be a lot of variety in quality when you’re using a wide range of different suppliers and policing this can be tough. When you opt for a single source supplier you’ve got a single benchmark for quality etc and you know that this will be consistently adhered to.
• Creating more space. If you’re currently pushed for space on your premises you could free up more of this with a single source supplier, as supplies are all held in a single location.
• Concentrating your purchasing power. Working with a single source supplier creates a much more powerful negotiating position and more leverage. You won’t be diluting your purchasing power across multiple vendors as it is concentrated in one valuable relationship instead. Discounts are always available on buying in larger quantities so the more you focus on one key relationship the better the cost savings you’ll be able to make.
• Better data and reporting. If you have a myriad of different supplier relationships you’ll have to work hard to gather data and reporting to quantify whether those relationships are producing the fruit that you would hoped they would. That’s not the case with a single source supplier, who will provide accurate data and all the reporting that you need.

These are just some of the benefits of opting for a single source supplier. Finding a partner who is the right fit is a vital choice. There are a number of ways to ensure that you do this, including asking for references and getting lots of information on how that potential partner works. If you’re interested in streamlining your processes through a single source supplier, contact our business development team today.