Small Suppliers - Big Customers....Opportunity or Obstacle?
February 4, 2022 10:00:00 AM PST February 4, 2022 10:00:00 AM PSTth, February 4, 2022 10:00:00 AM PST
If you missed today's LinkedIn LIVE Audio event, 'Small Suppliers - Big Customers: Opportunity or Obstacle' featuring Heather Fotch ~ Founder and WBE/DBE at Quality Imaging Solutions, and Helen Mackenzie ~ Head of Community and Events at Art of Procurement, and hosted by Kelly Barner ~ Procurement and Supply Chain Writer, Founder of Buyers Meeting Point, Head Content and Brand Management at Art of Procurement, and a LinkedIn Accelerator Member - you can now listen to the replay!
Don't hesitate to connect with us or share your thoughts on what we discussed ~ we would love to hear from you!
Highlights from the conversation include:
- It is a strategic advantage for small suppliers to be able to financially withstand the flexibility around payment term that large customers sometimes seem to need
- Buy-side accountability is very public, especially with government procurement, and agencies often respond by trying to get rid of all risk up front in the contract, by putting onerous contract terms on suppliers - Small business owners have to take it upon themselves to review (boilerplate) contract terms and SPEAK UP about the ones that do not apply or present a problem
- The fact that only 15% of poll respondents say their small suppliers complain about procurement processes being slow is proof of progress... now we have to replicate that for internal stakeholders and distributed buyers
- Kelly's LinkedIn poll results are in! Small Suppliers complain the most often about:
~~Slow payments - 38%
~~Onerous contract terms - 38%
~~Overall slow processes - 16%
~~Lack of human contact with Procurement - 9%