S12 E17-20 (BECOMING THE LOWEST COST PRODUCER) - INCREASING SUPPLIER VALUE ADDED WITH WILLIAM EASTMAN

Did you know?

• Reducing supplier costs from 9% to 4% could double profits?
• 57% of customers  believe the right suppliers is a competitive advantage
• High Value Suppliers provide expertise beyond most small businesses

The quality of your suppliers will have a major impact on the quality and margin of the products and services you will deliver. Additionally, you want to find marque suppliers to use as part of your brand association. Life cycle costs: defects requiring rework, defects requiring return, warranty or guarantees, durability. Also consider payment terms.

Show Objective
Given the session on developing a Lowest-Cost Producer, you will be able to review and improve relationships with suppliers to reduce costs and improve quality.

EPISODE 17: Summary - (support podcast)
The place to start is to compute all associated costs for buying, using, servicing the input and add to the initial price. Did you pick the right supplier? Use this metric to evaluate current relationships to provide a model to interview and evaluate future suppliers.

IMPORTANT SUPPORT IS NOW AVAILABLE - Next Tuesday at 1PM EST is our CHALLENGE Session where we will review the previous Financial Shows. It is an open forum for you to ask questions and challenge your thinking about Owning Your Numbers. Click Here to Reserve a Seat.

Tags: recession proofing your business, high value suppliers, supply chain, operations, IBGR, IBGR Network, William Eastman

EPISODE 18: Why Are The Right Suppliers Critical - (support podcast)
The place to start is internally. You are building an organization based on a vision of the future, a mission statement on what value you provide to whom, and finally a set of operating principles that defines what is in or out of bounds; a set of ethics on how to achieve goals and objectives. 

This is your internal branding. Now the focus shifts outward and turns what is internal to what customers will experience in terms of quality, service, and value at price. 

Topics:

• Ease or friction in the buying process
• Amount of rework required to use their products or services
• Impact of friction and rework on unit price or price per hour
• Do they have expertise to share?

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IMPORTANT SUPPORT IS NOW AVAILABLE - Next Tuesday at 1PM EST is our CHALLENGE Session where we will review the previous Financial Shows. It is an open forum for you to ask questions and challenge your thinking about Owning Your Numbers. Click Here to Reserve a Seat.

Tags: recession proofing your business, high value suppliers, supply chain, operations, IBGR, IBGR Network, William Eastman

EPISODE 19: What Do You Look For In A Supplier - (support podcast)
Well, it should be obvious what to look for with suppliers - shared internal and external branding. Whether you are a startup with little market awareness or a major player with a long track record, who you associate with matters. You can't have your brand associated with organizations that will spoil or destroy your brand.

Once you assess their products and services fit what you need, the preliminaries are done. It is time to do the heavy lifting of finding what they are about. Are they as dedicated to making the relationship work as you are?

Topics:

• Good faith negotiation
• Long, intense meetings
• Not replaceable
• Willingness to invest into the relationship

IMPORTANT SUPPORT IS NOW AVAILABLE - Next Tuesday at 1PM EST is our CHALLENGE Session where we will review the previous Financial Shows. It is an open forum for you to ask questions and challenge your thinking about Owning Your Numbers. Click Here to Reserve a Seat.

Tags: recession proofing your business, high value suppliers, supply chain, operations, IBGR, IBGR Network, William Eastman

EPISODE 20: How To Build The Right Relationship - (support podcast)
If your assessment of the supplier is that they are the right choice, now it's time to start the investment. Your goal is to make their offer a competitive advantage for your organization AND a competitive advantage for your alliance partner. ​Are you up to the task?

Topics:

• Consider both brands
• Build revenue for both
• Shared investments in each other
• Reduce the number of suppliers to a few, the best

IMPORTANT SUPPORT IS NOW AVAILABLE - Next Tuesday at 1PM EST is our CHALLENGE Session where we will review the previous Financial Shows. It is an open forum for you to ask questions and challenge your thinking about Owning Your Numbers. Click Here to Reserve a Seat.

Tags: recession proofing your business, high value suppliers, supply chain, operations, IBGR, IBGR Network, William Eastman