The devastating impact on your business when a supplier is unable to deliver their goods/services cannot be under-estimated.
All too often it comes as a major surprise when a supplier goes into administration and all of a sudden you are unable to meet your customers delivery requirements. Or a global epidemic means that supply chains come to a crashing halt, often crippling businesses.
Being unable to fulfil your customer orders, can dry up cash or lead to customers walking away, resulting in your own business being doomed to the growing list of insolvent businesses.
And do not say it doesn’t happen, over 500,000 business have become insolvent in the last year! One of your suppliers may be on that list!