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How many suppliers should I ideally have?
Any business should have a diversified supply chain with many suppliers to ease risks. This ensures continuity of supply, competitive pricing, and access to various products and services. But, the number of suppliers will vary based on factors like industry, business size, and needs. Striking a balaRead more
Any business should have a diversified supply chain with many suppliers to ease risks. This ensures continuity of supply, competitive pricing, and access to various products and services. But, the number of suppliers will vary based on factors like industry, business size, and needs. Striking a balance between efficiency and risk management is the key.
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