“I've seen $800 million companies literally never have an agreement with their customers or suppliers... having agreements with everybody builds value.”
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Said on Entrepreneurs on Fire
Steven Voss, Lindsay Corporation · The Chain Podcast · From Resilience to Readiness: Designing Supply Chains for a World that Never Stabilizes
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Diversify risk by working with existing suppliers to identify their presence in other geographies rather than switching to new suppliers
“I've seen $800 million companies literally never have an agreement with their customers or suppliers... having agreements with everybody builds value.”
“Ask happy customers for reviews. Join your industry association. Get involved locally. Ask suppliers and partners whether they'd be happy to list you on their website.”
“If I use a standard supplier... I can put in an order tonight and it will arrive tomorrow... If I want to work with a local farmer, I'm planning three weeks out”
“He didn’t miss a day of work… knew every single SKU, knew his costs, knew his margin, communicated directly with suppliers.”
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