Electrical Supplies in a Tough Economic Climate
Mark Fiddy, Commercial Director, Newey & Eyre
Managing cash flow has always been a critical skill for any business. In the current economic climate, it is vital that any business has full control of its working capital. Reducing workloads, pressure on lending and customers often looking to delay payments can cripple cash flow and rattle nerves.
Many of us have lived through times like these in the early 1980s and 1990s. What makes matters different this time round is the state of the banks due to the sub–prime fiasco.
There’s an old adage that it’s easy to create success during a boom, but it’s a different matter when times get harder. The temptation is to cut costs in the drive to secure work, but this could affect quality, and ultimately, your reputation.
If ever there was a time to retain existing business, it is now. And while cutting specifications might secure some short–term profit, chances are it will do little to enhance a company’s long–term standing and future business.
In a downturn the key is to use brands and manufacturers you can trust and rely upon,even when the market is awash with cheaper products. Concerns surround an upsurge in the amount of counterfeit products, which are not only of poor quality, but can be potentially dangerous. In addition, customers will be reassured to know only recognised brands are being used.
At Newey & Eyre we continually review our trading partners to ensure that they meet the latest European legislation and standards…
There’s no doubt that when you install a product your reputation depends on it. Our customers need the assurance that the products they use are sourced from a robust and certified supply chain. At Newey & Eyre we continually review our trading partners to ensure that they meet the latest European legislation and standards, to provide continuous availability and reliable warranty support.
Contractors also need to recognise the importance of environmental factors and make intelligent choices by purchasing energy–efficient products, as total life cost is an important consideration beyond initial installation costs. In terms of sustainability, Newey & Eyre proactively seek suppliers who recognise the importance of utilising recycled materials within their manufacturing processes.
Fundamentally, it is important to deal with suppliers you can count on. Innovative suppliers who can add value to your business and business processes, which work to reduce cost not service in the supply chain — basically people who will go that extra mile to help and support your business.
At Newey & Eyre we are committed to working with the industry’s major manufacturers and ensuring we continue to serve our customers to the best of our ability. As part of the Rexel Group, we are now even better placed to do just that in the coming months and the years ahead.