Ensuring supply and partnering with high quality, reliable vendors is critical to the success of your business.
Brown Smith Wallace can support your success by working with your team to determine your requirements for raw materials, packaging, or other goods and services, as well as preparing and managing a request for information or request for quote process.
Our sourcing and contracting services also include:
- Conducting industry studies and supplier benchmarking
- Conducting supplier performance review and establishing partnership models
- Facilitating negotiation support using your preferred commercial terms
- Reviewing contract commercial terms
- Performing material requirement planning
- Analyzing cost of goods sold and assessing opportunities
- Training and coaching on commercial sourcing and contracting
- Finding new or additional sources of supply
- Optimizing processes for invoice and payment management
Contracting and finding the right providers can be time consuming, so it’s tempting to take the first bid or not read the legal language. There are many ways to structure an agreement with your suppliers, and the cost of goods is only one term to consider. There are also many alternatives in the marketplace and weeding through the information can feel overwhelming. Even after an agreement is reached, managing invoices and cashflow may not be your highest business priority.
The team at Brown Smith Wallace can support as needed, from a full sourcing to contract review, to ad-hoc review and cost analysis. This allows you to establish what matters most to your business and set up partnerships for long-term success.