When your vendors change their costs, it has a direct impact on your profitability. While pricing is due to change, should you stay with your vendor?
When your vendors change their costs, it has a direct impact on your profitability. While pricing is due to change at some point, is it fiscally responsible to stay with a current vendor or seek out a new one? An educational publisher found themselves in a jam when their long-standing supplier decided to increase their prices. With the new costs, it meant the publisher would be forced to push the price increase to their customers, which could result in a loss of sales for their homeschooling market.
Bradford & Bigelow then came into the equation and the educational publisher was hesitant to a change as they had been working with their supplier for many years. But that concern was quickly erased. With a focus on the 8.5×11 trim sizes, B&B is able to streamline manufacturing and distribution all under one roof. The reduction of equipment setup and downtime is virtually eliminated. This allowed their books to speed through production with less overhead costs.
One of the most basic reasons companies raise their prices on their products and services is to adjust to increased business costs. However, in the printing industry, publishers also need to factor in efficiency of equipment, downtime of such, along with staffing and labor. With Bradford & Bigelow’s specialization, the cost of manufacturing is reduced and the publisher was able to save 25% compared to what they previously paid before their prices were raised.
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