Question

You are a co-founder of a start-up firm making electronic sensors. After a year of sales, your business is not growing rapidly, but you have some steady customers keeping the business afloat. A major supplier has informed you it can no longer supply your firm because it is moving to serve large customers only, and your volume does not qualify. Though you have no current orders to support it increased commitment to this supplier, you do have a new version of your sensor coming out that you help will increase the purchase volume by over 75% and qualify you for continuing supply. This supplier is important to your business. What do you do

Answer 1

Answer is given below :

Explanation:

To persuade the supplier to stay in touch with the company and continue to supply it, we can do the following as

• Tell the supplier that sales have increased with the new product that the company is going to market, using different estimation methods.
• Demonstrate product samples to the supplier to gain their trust.
• Provide the supplier with some favourable terms and conditions so that it stays with the company.
• Make a formal agreement with him, we will order the bulk goods from the supplier