New England Supply Chain Conference

I attended the New England Supply Chain Conference and Exhibition on Monday in Marlboro, MA.  I was fortunate to speak on the subject of negotiation and was happy to see more than 100 purchasing and supply chain folks hearing me talk about going back to basics in negotiation. We can all use a refresher from time to time, especially now given the economic turmoil.

Purchasing folks earn their pay in these conditions. With tight credit, cash flow is of paramount importance. And nothing impacts cash flow like poor supplier performance. More and more suppliers are having cash issues and that will impact performance, and yours, in a never ending cycle. It is time to pay attention now and ask the tough question of the financial health of your suppliers, and theirs. Be prepared to also answer their tough questions about the financial condition of your company.  

All indications point to things getting worse before they get better. We are in a unique position to add considerable value to our companies being on the front lines of this economic maelstrom. Take advantage of the opportunity and good luck.