| Unless you work in a Communist State or in the Public | | | | requirements. You'll also be able to agree a price |
| Sector, all businesses are interdependent. What this | | | | before the emergency happens. Then the new |
| means is that without other similar businesses around, | | | | supplier won't be able to hold you to ransom. |
| your business would struggle to exist. Is that a good | | | | Are your competitors really your competition? |
| thing? | | | | It's also important to conduct a thorough analysis on |
| The supply chain | | | | your competition. Then meet them for lunch. First of all |
| Although you may think that you can survive by | | | | review your local competitor's product and service |
| yourself, just stop and think about how reliant your are | | | | offering. Review how much they're charging and who |
| on receiving your wholesale supplies. This doesn't just | | | | their existing clients are. The chances are that after |
| apply to products. There are many wholesale suppliers | | | | you take your magnifying glasses off you'll realise that |
| to the service industry such as IT Services or the | | | | your businesses are more different than similar. This |
| Yellow Pages. Could you really exist without any | | | | means that you both have a lot to talk about. |
| external help? | | | | You don't have to be scared about meeting your |
| Keep your supply chain options open | | | | 'competition' for lunch. You're not going to talk about |
| It's all and well having a reliable, automated set of | | | | you existing profits or your existing operating systems. |
| suppliers. But what happens if a supplier goes | | | | So you're not divulging any significant trade secrets. |
| bankrupt? What happens if a supplier goes on strike? | | | | The worst thing that will come out of the meeting is an |
| You have to have an alternative plan in place in case | | | | occasional customer referral. The best thing that will |
| the worst happens. | | | | come out of the meeting is a long-term strategic |
| If you don't have an alternative plan in place then it's | | | | alliance. |
| your customers that will suffer. Even although you | | | | Do you co-exist or are you making things hard for |
| may have existing service level agreements in place | | | | yourself? |
| with your suppliers, nothing is guaranteed in business. | | | | The majority of businesses that try to survive without |
| Arrange an alternative supply chain | | | | continually analysing their supply chain and interacting |
| There are bound to be supplier companies out there | | | | with their so-called competition aren't living up to their |
| dying to win your business. Why not arrange a 'first | | | | full potential. The fact that businesses are |
| alternative' option with them? I.e. If your existing | | | | interdependent is a good thing only if businesses |
| suppliers let you down, you've already arranged which | | | | themselves recognise it and embrace it. Only then can |
| company you will call. This has two benefits for you. | | | | they take full advantage of the subtle relationships that |
| You've already ascertained that the alternative supplier | | | | can significantly impact their customer offering. |
| has the capability of meeting your volume | | | | |