Never Commit to Just One Source of Supply

DEDHAM, Mass. - June 15, 2016 - PRLog -- Chief Financial Officer Michael Barbarita has written a new blog post emphasizing the importance of not committing to just one source of supply.  Even though being loyal to suppliers is very important to build and maintain loyalty with suppliers, it's also very risky to limit oneself to just one supplier for a specific segment of one's business.   Drawing on his many years of experience as a CFO, Michael writes that having only one supplier runs many risks including:

·  The supplier may drastically change price and terms; putting the business owner in a tight spot

·  The supplier may reduce quality control of their product; causing quality reduction that will hurt the business

·  The business owner may be taken advantage of

·  Being oblivious to what is really happening in the market regarding other suppliers prices, terms, and commitment

·  The supplier can stick the owner with unreasonable terms and the owner would have no leverage

The entire blog can be found at http://cfo-chief-financial-officer.blogspot.com/2012/05/never-commit-to-just-one-source-of.html.