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HOW TO GET BETTER DEALS FROM SUPPLIERS

 

Dental equipment is expensive and can put a big dent in the bank account but is a necessity that can’t be avoided. Trying to get cheaper equipment and better deals from suppliers can be difficult but are beneficial in helping lessen the blow to the budget. We have some tips on how you can get better deals from your suppliers to keep your budget looking a little happier at the end of the day.

 

Build a relationship

Building a relationship with your supplier takes time and won’t necessarily guarantee money off your equipment but it’s one step in the right direction to potentially achieving that. Build a relationship by making payments on time, as delays can make you seem untrustworthy and can be frustrating on the supplier’s end. Send thank you cards or emails, visit their premises and even invite them to the events you hold. These are all great ways of building a relationship.

 

Don’t forget about discounts

Find out what discount’s suppliers pay for early payments or even just try asking for a discount, you’ll be surprised how many people will give you a discount if you just ask. Always keep an eye out for when they hold sales or discounts on items and take advantage of that.

 

 Try before you buy

Always be selective about any products you decide to add. Ask yourself whether it is a “need to have or nice to have” supply. When testing new supplies, get staff involved in the test, evaluation, and feedback process. Both you and your team are “stakeholders” in the evaluation process. Bottom line, any supply change or new addition should have both clinical and financial benefits for the practice.

 

Renegotiate supply contracts every year

It typically takes 12 months of purchasing supplies and using these strategies to realise reduced expenditures and savings. Buying power comes from your ability to manage practice supply inventories efficiently. When you have buying power, you have the leverage to negotiate price and terms. Every year, ask current distributors and vendors for new price quotes based on your supply list and history. A reputable distributor will value your business and work with you to identify cost-saving opportunities. If a distributor is reluctant to work with you or help manage your spending, consider conducting a bid. Bidding your supply business allows distributors to be competitive, which in turn gives you the best supply pricing for your practice.

 

We hope some of these tips have helped if you haven’t been using these approaches in your business already.