Using The Internet To Expand Your Vendor Base

In todays competitive environment where every dollar counts

, finding ways to save money at the point of purchase, without incurring any hidden cost, is a good way to add to your bottom line.

While most of us are used to buying office supplies and blue jeans on the internet, less than 15% of companies use the internet to buy industrial equipment and supplies. The reality is that the same logic that tells a man in Arizona to buy his new camera from a vendor in Ohio, applies to Steel Worker in Ohio who buys a grease gun in Arizona.

The cost of a product is the sum of the price you pay for it plus any shipping plus the after the sales service and warranty plus the effort it takes to order the product. Granted the value of service and warranty vary from person to person, but for many items there is great value to be found on the internet.

There are companies in most industries that specialize in internet sales. They will make a smaller margin on the sale, but will pull sales nationwide, not just in their own region. These are professional companies that provide real service and value to their customers. They will often sell product cheaper than you can get locally and pay the shipping, yielding you a true net savings. For most, you can order over the phone or the internet, making the transaction fast and easy.

Lets say you make widgets and these widgets use pressure gauges. Right now you buy your pressure gauges from your local dealer. You shop on the internet and find the same or nearly identical product for 35% less than you pay now. Its sound to good to be true, but it isnt. Follow these steps and the savings can be yours:

1.Contact the prospective vendor and ask them about their warranty and return policy. Most reputable firms will have some form of the customer is always right policy. Whatever their policy, make sure you are comfortable with it.

2.Ask for samples. There is no better way than to judge the quality of a product than to put it in your hand. When you do this, be prepared to give a conditional purchase order. Most companies will want to know that there is an order to follow if you like the sample.

3.Buy the product and save the money.

Right now, you either issue a PO, by phone, fax or email or get a package via UPS. When you buy from an internet vendor that is exactly how you will buy and receive your products.

There are companies that go out of their way to by low and sell low, to keep their volume high. In this day and age, many of them sell on the internet. You can save a tremendous amount of money by seeking these firms out and doing business with them. They offer lower prices because they work on a lower profit margin and they generally have lower overhead than other competitors. In reality, why they do it should not matter to you. That they do it and give good service and warranty to you, and save you money in the process, should matter to you. Take advantage of these firms and watch the results on the bottom line.

by: harris Weisman

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