Be careful, you don’t want to pay for storage and end up with obsolete stock or tie up too much cash. If you know your supplier’s business this will put you at an advantage to know where you can reduce costs. Whether it’s buying in bulk or ordering during off peak times, know where you can save money and negotiate the terms. Ensure you formalise the discount by having it in writing and it doesn’t hurt to remind the supplier that you’re helping their cash flow. This arrangement can benefit you by saving on the order costs and your supplier wins by getting the funds owed to them faster. With low interest rates, even if you do go into overdraft, a good early payment discount can be a net gain to your business.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |