PERSPECTIVES
The Power of Partnerships By Austin Maxwell, ISFA President
As we approach the end of the year, it’s a time for introspection and planning for the future. This is an opportunity to reflect on the critical role that our partners play in our business — particularly our suppliers. There’s significance in cultivating strong and mutually beneficial relationships with suppliers, as they can profoundly impact our business’s success. Selecting the right suppliers is more than just a matter of cost; it’s about creating a partnership based on reliability, quality and shared values. Take this opportunity to assess your current supplier relationships. Are your suppliers consistently delivering high-quality materials punctually? Do they offer competitive pricing? Are they responsive to your requests and concerns? Do they bring you opportunities to grow your business? Reflecting on these aspects can help identify areas for improvement or opportunities to cultivate new supplier partnerships. It’s easy to get caught up in reviewing the cost of materials on the supplier’s price list, and we forget about the intangible costs we incur due to suppliers. You have to look beyond price when evaluating suppliers. What is the cost of your company’s reputation faltering due to a material supplier that didn’t deliver on time or supplied damaged goods, forcing you to reschedule the installation? While cost-efficiency is essential, focus on the overall value a supplier can bring your business. Factors like product quality, lead times, reliability and willingness to adapt to your business needs should be considered. Choose vendors who make your life easier and avoid the vendors that cause you problems and headaches. While it is, in some ways, advantageous to develop deep relationships with one vendor, proceed with caution if any one vendor makes up more than 50% of your purchases. Consider diversifying your supplier base to reduce risks associated with
overreliance on a single source. Building robust connections with multiple suppliers can offer you flexibility and alternatives when it comes to sourcing materials, enhancing the resilience of your supply chain. In addition to strengthening supplier relationships, consider the transformative power of industry involvement and networking when evaluating your options. Getting engaged in the countertop fabrication and installation community can open doors to valuable insights and opportunities. Attending ISFA Roundtable events, trade shows and conferences can be a game-changer for your business. These gatherings provide a means to connect with industry peers, experts and potential partners. Networking isn’t just about making connections; it’s also about sharing knowledge. Sometimes, learning just one valuable insight or strategy from a fellow professional can completely transform your business. For example, a pointer I picked up at the 2017 ISFA Annual Conference has paid for my annual membership dues and all travel and event expenses since then. When you go to these events, you can pick up a whole host of ideas to take back to the shop. The fact is that just one or two of these can make a huge impact. As you conclude this year and prepare for the next, remember that your supplier relationships are central to your prosperity. Take the time to evaluate your existing partnerships and explore opportunities to enhance them in the coming year. Simultaneously, consider actively participating in the countertop fabrication and installation industry by attending events and networking. Engaging with industry professionals and staying updated on the latest developments is a catalyst for growth and innovation that shouldn’t be overlooked. International Surface Fabricators Association • Vol. 16 / Issue 4 • 59
