Changing Purchasing Patterns

Changing Purchasing Patterns

January 29, 2016  |  Business Needs, Business Plan, Purchasing Patterns

In order to “hit the ground running” in 2016, plant managers and sales managers need to evaluate how their business needs are changing and how their customers’ business needs are changing in order to stay competitive this year. 

Woodworking manufacturing companies need to be aware of the shift in how companies and customers make buying decisions. More often, companies are looking to purchase products produced in their entirety as opposed to component parts. These same customers and companies also expect a quick turn-around when it comes to delivery.

This method of purchasing has shifted as a result of a weaker economy. Businesses are spending money on attracting new, profitable clients and they’re spending more on marketing to create programs that increase brand or company awareness.

Now, businesses are working off cash flow, which means they’re ordering the number of items required and they are no longer ordering extra. Businesses are no longer keeping warehouses full of inventory and fewer companies are ordering component parts since they now want completed items that are shipped by the manufacturer.

Businesses who fail to adapt to the changing purchasing patterns risk failing as a business in this competitive environment. Take time now to make a plan for 2016 so your company can compete with the businesses adapting to this change in purchasing patterns.

As a team, examine your company’s strengths and weaknesses, and then plan around those. As a business owners or managers, you need to do whatever possible to compete in this increasingly competitive market.

When it comes to your purchasing patterns, make 2016 work for you. If you have questions about changing your purchasing patterns, call Philip Bibeau of WPMA at 978.874.5445 for additional information.