MRO buyers: how to negotiate better deals?
Inventory makes up for the maximum spending of a company. Buying inventory is not just raising a purchase order. Rather it is about paying close attention to how much inventory companies should order and when to do it to reduce carrying and storage costs. A very important aspect of inventory management is negotiating good deals with MRO suppliers. Negotiating deals is not picking the lowest quote but creating a situation that is a win-win for your company as well as suppliers. Negotiating good deals help you build better relationships and deliver good quality products at the end of the day.
As one of the leading e-marketplaces for genuine and unused MRO spares, we share a few tips on how to negotiate better deals for MRO products:
Know your product requirements: As an MRO buyer, before you start negotiating or contacting suppliers, it is important that you are clear on your requirements. If you have more than one factory or industrial set-up, it is best to consolidate the order to get the best price from suppliers.
Identify multiple vendors: It is always advisable to identify multiple vendors of the same products. This way a single vendor will not have the buying clout. Also, in case a particular vendor fails to deliver, you know where to go.
Indicate funding is available for the purchase: Vendors don’t like spending a lot of time and effort preparing a quote that’s only for budgeting purposes. Indicate that you have the authority to make a purchase to get their attention.
Don’t initiate pricing: When you are at the negotiating table, you will not get the best price right away. However, avoid the temptation of giving away the price that you want. When it comes to packing costs, shipping costs, and other incidental expenses, the supplier has a lot of room to wiggle. You can negotiate on them.
Note: Make sure that you have done your homework and have taken quotes from multiple suppliers. This way you will have an upper hand when negotiating with shortlisted suppliers
Ask for payment terms: Many suppliers prefer a certain amount of partial payment. If you like the payment terms of suppliers, you can use this to get more discounts.
Looking for genuine, unused MRO spare parts online?
A very important part of inventory management is to buy MRO spares at discounted prices. You can buy genuine and unused MRO spares on mjvaluemart. Spares such as different types of valves can be found on the platform. Buyers can buy can find different types of valves used in water supply system on mjvaluemart. You can also find different types of valves used in fire fighting system. You can log in to browse products, place the products online and get them delivered to their doorstep.
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