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Why ‘You Can’t Afford Not to’ Is a Universal Business Concept You Should Apply to Your Vendor Relationships

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When my partner and I started our company, we wanted to be the best. We didn’t start out by buying bargain equipment or hiring the cheapest workforce. We focused on buying the best equipment and investing in the top people because we felt that to reach the level we wanted, we couldn’t afford not to. 

This means we knew we couldn’t settle. To be the best, we had to invest at the highest level possible. This mindset has led to great success for us, and it is a part of everything we do, including our partnerships and vendor relationships. 

We hear all the time that a company we want to partner with can’t afford to switch vendors. Our view is that if you really look at the total costs of everything involved with working with a sub-par, budget-focused vendor, you will end up spending more in the long run. In other words, you can’t afford not to switch. 

It can be a tough pill to swallow, but it’s important to look at the big picture and think about the kind of partnerships you want to have and the total costs associated with your decisions. 

You Can’t Afford Not to Work With a High-Reliability Organization

Before the COVID-19 pandemic, it may have seemed smart to work with a vendor that can provide you with a budget-focused solution to your needs. However,  you need to ask yourself, when something like a global pandemic strikes, will that vendor be there for you. 

The High Reliability business model ensures that we can weather the storm, no matter what it is. COVID-19 was a great test for us, and we can proudly say we continued to provide highly reliable service to our partners. We didn’t fall short of anyone’s expectations. As an essential business, we were able to continue working, and despite our supply chain experiencing issues, we managed to meet expectations set by our partners. 

The question we ask is, would your current vendor be able to say the same? Can they ensure they will be committed to your success? If not then it’s clear that you can’t afford not to work with High Reliability vendor relationships. 

You Can’t Afford Not to Focus on the Best Instead of The Bargain

High Reliability is one thing. You need your partners to be there for you even in tough times, but you also need to focus on leadership and working with the best in the industry. 

There are two types of creators in the business world. The kind that bargain shops, and the kind that focus on value even if the piece price has a premium. While the bargain shoppers may win in the short term, the visionary business leaders that focus on quality will see dividends paid over a long span of time. They will be in business long after the bargain shopper creator goes out of business. 

You Can’t Afford Not to Identify Pain Points And Additional Costs

One common struggle we often see when discussing our services with a prospective partner is that they don’t quite understand the fact that pain points with their current vendor lead to additional costs overall. If they end up paying 10 to 20 percent higher fixed operating costs but eliminate pain points and additional costs that pop up, they’d see high value in switching vendors. In other words, you can’t afford not to identify pain points and additional costs and then switch to a vendor or partner that is going to eliminate those issues. 

Mainstay Manufacturing has always strived to be the best and provide steady and predictable service to our partners. It’s our commitment to that and the fact that we approach every business decision not from a budget-focused mindset but from a high-reliability and true value-focused mindset that has allowed us to be a successful manufacturing business and an industry leader. 

We’re here for our partners to help them understand what they can’t afford to miss out on. Our success is their success and their customers’ success. If you’re interested in a partner that’s committed to consistent improvement start a conversation with us today.