Nathan Joyes | Friday, February 15. 2013 | Comments (1564)
We all know that the big guys tend to get better pricing, but it’s not just because they are better at arm twisting, and it’s not simply due to their large purchasing volume. Sure, size does matter, but only to a certain point. Purchasing discounts are available and the key is knowing what the big guys do to earn them. In my last post on The Golden Rule of Group Purchasing, I talked about using electronic transactions to create value for your suppliers. The resulting benefit is detailed and accurate purchasing data for head office, but electronic transactions can also significantly improve the pricing that you get from suppliers. What supplier would not be interested in sharing the savings, if you can improve their efficiencies and reduce their costs? Here’s four ways you can do both using electronic transactions… and one secret weapon as a bonus.