If you are using any global or local platform or online marketplace for buying and selling products then you already know its advantages, but if not, then read along to find out why one should use this way of purchasing products.
- Finding a new partner becomes easy. In the present days of globalization, free-market competition, and commodity futures contracts it can be difficult to buy products at a good price. It can be even more difficult to find a reliable partner you can trust, but when you can find new possible suppliers just by adding keywords at an online marketplace platform, it becomes super easy to form new, trustable partnerships.
- Reduction of waste and sustainability activities. By purchasing products, for example from a manufacturer that is on the verge of overproduction, you will help them to sell more products and that way reduces the chances of creating waste due to overproduction. That’s a great way to help other businesses fight against food waste and to increase your sustainability actions.
- Lower prices. At the online marketplace, there is competition between suppliers selling the same type of products that is favorable from the buyer’s point of view. Some sellers will adjust the prices due to their stock, some will do it to be cheaper than other competitors and others will maybe use a different strategy. But it doesn’t matter which strategy the seller is using, what matters is that the competition will drive the prices and you as a buyer will have the option of choosing the most favorable options, which will also allow saving money.
- Supplier Benchmarking. When browsing through the online marketplace, it’s easy to find many suppliers for the products that you are looking for, but what makes it useful is the easiness of comparing suppliers and also the products. This gives you the advantage to buy from a source that is the most convenient for your business and choose the products that you are sure will fit within your criteria. This way of purchasing enhances transparency for both the suppliers and products sold, which will be of great help before making the closing decision. This way you can contact few suppliers easily and browse between the responses and product description, or even order a sample and then later after a personal evaluation makes the right decision of from which you would like to buy. Or another option would be to buy in small quantities, to test with which one of the current partners you can develop the best relationship, and so on slowly increase the ordered quantities with the most favorable supplier and decrease with the ones that are lacking your sympathies.
Buying from different manufactures can turn your business around. Forming many new partnerships, evaluating them, and creating safe and trustable relationships with the most favorable suppliers, based on how they have performed before.
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