HomeSpring ConferenceFall ConferenceClientsSuppliersVideoBusiness PanelVenue
 

Richmond Events' US Business Panel Report - Attitudes to Suppliers Research


The latest Richmond Events' business panel is now available. Please read on for headline findings and to download the full report.

Go to post Continue Reading


Richmond Events' Business Panel Report - Attitudes to Suppliers


Headline findings include:
  • 6% of the panel will meet over 50 potential new suppliers per year though none will appoint this many. 
  • On average the panel talk to 18 potential suppliers over the course of a year.  They then appoint on average 5 new suppliers per year – i.e. just over 1 in 4 (or 28%) of the companies they meet.   
  • The average number of suppliers that the panel employs over the course of a typical year is 28.  This can be further broken down to 23 (82%) existing and 5 (18%) new.
  • Only a minority of companies always employ a formal tender process or a short list system when appointing new suppliers.
  • In terms of input from other departments during the appointing of new suppliers, procurement are most likely to be involved, finance and legal in some cases and HR less so.
  • The 2 top ways of sourcing potential new suppliers are recommendations / word of mouth and through meeting at a conference. 
  • No surprise that in this day and age price is the number one factor the panel looks for when compiling a shortlist of suppliers. This is closely followed by product quality and flexibility.
  • 82% of the panel have asked some of their suppliers to re-quote their prices over the last few years, with the average number they’ve asked being 30%.
  • However the majority of the panel has not changed their payment terms
  • Over half of the panel has brought work back previously outsourced work in house.  Of those that have done so the average amount (they’ve brought back) is 13%.
  • The majority of the panel is quite prepared to ask suppliers to re-quote in order to match a lower price, with only 6% saying they would never do so.
For full report http://revents.info/l/6qk


General Enquiries:

UK
T: +44 20 8487 2200
F: +44 20 8487 2300
general@richmondevents.com

USA
T: +1 212 651 8700
F: +1 212 651 8701
general@richmondevents.com

Switzerland
T: +41 61 335 94 44
F: +41 61 544 74 44
general@richmondevents.com

Italy

T: +39 02 312009
F: +39 02 3313976
general@richmondevents.it

Get in touch

 Security code