October 11, 2021
Inventory Horror Stories: How to Avoid Scary Mishaps & Mistakes
Gather 'round and get ready for some truly chilling tales. We're talking about inventory horror stories. Supply chain disruptions are shaking up the promo industry, causing late orders and poor client relationships – talk about scary! Find out how you can avoid these terrible fates for yourself and your distributorship ... if you dare.
Horror Story #1: Rising Prices
With supply chain issues and material shortages running rampant, many suppliers are raising prices to make up for the cost of sourcing goods. This gives distributors like you two not-so-great choices: eat that cost yourself and make less money on each order or ask your clients to pay more than they’re used to, potentially souring that business relationship for the future. Neither are good options for the longevity of your distributorship.
Prevent this from happening to you by doing your research ahead of time on which suppliers can offer the stable pricing you need, even during difficult times. Fey Promo, for example, has managed to almost avoid price increases completely during the COVID-19 pandemic thanks to their Minnesota Made manufacturing. Unlike other suppliers that primarily decorate, Fey Promo is able to negotiate pricing on the raw materials themselves – or switch up vendors completely, should the situation call for it. You can count on Fey Promo to be completely transparent too: You’ll never get hit with any invoice surprises after orders have shipped.