Should you use one fastener supplier or several?
The world of engineering and manufacturing is constantly changing. JET PRESS customers range from SMEs to global businesses and they have all dealt with the challenges like value chain analysis, supply chain management and just-in-time manufacturing. They’re now looking at new developments like 3D printing and Manufacturing 4.0. But whatever else changes one question always crops up – is it better to have one supplier or many?
Look carefully at your business needs
The answer to the question of course is – it depends. It doesn’t matter if you check with industry experts like Dawson Consulting the Australian SME experts or Supply Chain Sourcing academics at Rutgers University in the US; they describe the same pros and cons. The downsides are summed up by the old saying; don’t put all your eggs in one basket. There is a risk that your sole supplier will fail and cause you serious production problems.
The list of benefits associated with using a single supplier is longer and includes issues all businesses should be aware of.
The benefits of using a single supplier
Starting with the obvious benefits, you have less admin if you order a lot of items from the same supplier. There is also potential to negotiate a better deal if you promise all your business to one supplier. Though of course it is essential to scrutinise the supplier to make sure they are financially secure, have a good record of reliability and can meet your needs.
Another practical benefit is that you can share information with a trusted supplier and streamline systems to improve efficiency. There is also a single point of contact if you have issues with quality.
They have skin in the game
It might be a bit less easy to quantify, but all the experts agree; the relationship you build with a good supplier can deliver significant business benefits. Firstly, if you are an important customer your supplier wants you to do well because it means more business for them. So they will focus on doing the best possible job for you.
They are also likely to be more flexible and work around your requirements. For instance, JET PRESS stock over 70 million products in their warehouses, but for some customers they will hold stock on customer sites. These customers can pick products as they need them and JET PRESS will send them one consolidated invoice at the end of the month.
A win win way of working
Another great benefit of working with a single supplier is the technical support they are willing to give customers. In a stable, long term relationship a supplier can build an in depth understanding of the needs of their customer. JET PRESS has a hard earned reputation for knowing customers personally and understanding their business. This leads to regular collaborations with clients to specify precisely the right product or to design, prototype and test a new product.
For instance a JET PRESS customer who builds off road vehicles had a manufacturing issue. Their engineer approached JET PRESS because he needed a fastener to hold some components in place just while the adhesive cured. The team identified a clip that did the job and because it was so low cost and unobtrusive the customer left it in place permanently as a back-up.
Every relationship has to start somewhere
We are very happy to provide detailed information about our service, consultancy on potential applications and supply samples. And of course, take orders.
+44 1623 551 800