Getting The Best Price On Products Your Business Regularly Purchases
When businesses increase in size, they often get less efficient in areas and are sometimes lazy, which can end up costing the company money. Many companies have a list of approved suppliers and buy what they need from these companies without shopping around, and they end up overpaying for their office and cleaning supplies. However, being more flexible with your purchasing can allow your employees to save money for your business on the things it regularly buys. Below are some tips to help you get started and ensure your company is not overpaying for items you always purchase just for the sake of convenience.
Go Through Your Records
You will want to go through the records of the previous year and make a list of all the items your company purchased. Doing this will give you a shopping list of items that you will need to find suppliers for to compare prices and get the best deal possible. Once you have a list of everything you must buy throughout the year, you can create a spreadsheet and start collating the information to make the task easier.
Create A Shopping Spreadsheet
You will want each product, such as antibacterial wipes, that you will purchase to have a different page in your spreadsheet, and it may take some time to prepare. You will also need space to fill in the information of the suppliers, such as:
- Company Name
- Website Link
- Unit Price
- Delivery Charge
- Lead Time
Once you have done this for each product, you can start your search online to find the lowest prices for the things your company needs to buy.
Filling Out The Spreadsheet
You will now need to search online for each product you require and find the best suppliers, adding the information to your spreadsheet. You must work your way through all the products until you have prices for them, and then you can compare them to see which company offers the lowest prices.
You may find that one company has the lowest price for one item but does not sell anything else you need, and the delivery charge makes it better to pay more elsewhere. Keep delivery charges in mind when comparing prices, and you can create a shopping list and fill everything to the basket on the websites you are considering using to get an accurate cost for your shopping.
Check The Prices Every Three Months
You will need to check the prices of the different suppliers every few months to ensure you are still using the most affordable option for your business. Having the website link to the product in the spreadsheet will make it quicker and easier to check prices later and update your spreadsheet as you go.
You can now place your orders for things your business needs with confidence, safe in the knowledge that you are getting the best deal possible. Ensure you keep on top of price-checking your consumables, and you can help save money for your business and streamline your operation.