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What kind of terms do you have with your vendors?

Discussion in 'Business Management' started by ColoPrinthead, Jun 21, 2012.

  1. ColoPrinthead

    ColoPrinthead Swollen Member

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    I do not want to know who they are. I'm curious about the different terms people are given and if the vendor dictated them or the buyer. I'm trying to get our company set up with a new vendor and I feel the Marketing Director (who has final say) is being a bit of a diva by demanding net 60 unless a discount is given. He thinks we're hot stuff because we are the largest purchases of Avery products in the state. I've tried explaining the volume that 40,000-60,000 sq/ft shops running 2 shifts burn through to give him perspective. We've already established lower pricing than our previous vendors.

    Thanks in advance.
     
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  2. 2B

    2B Moderator

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    most are COD

    no one gives net 60 and for matter a discount if not net 60.
     
  3. Coloradosigns

    Coloradosigns Major Contributor

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    You won't get 60 days... at least none of our local vendors.
    30 days for all of our vendors. They won't discount it for 30 days.. that's silly.. if anything they'll discount because of bulk.. which it seems you're already getting..

    We burn through miles of control tac, and they still won't give us 60 days..
    we do get a discount, but it isn't that amazing.
     
  4. CanuckSigns

    CanuckSigns Very Active Member

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    all of our regular suppliers gave us net 30 after a few months of paying them on time, all new suppliers ask for a credit card at the time of ordering, which is perfectly acceptable as we have no history with them.

    I don't know if they will give you net 60 right off the bat, you might be better to wait a few months so they can verify the quantity of supplies you are buying, you may be in a better position at that point.

    On a side note, net 60 is a bit obnoxious, the longest we allow is net 45 for some customers.
     
  5. wildside

    wildside Very Active Member

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    net 60 is not gonna happen, we have some that are net 30, one of them is net 30 with a 3% discount if paid within 10 days

    several we use credit card with good point system so our purchases are working for us too.....
     
  6. Coloradosigns

    Coloradosigns Major Contributor

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    Every month i pay my grimco bill i get a free plane ticket..Via AMEX.
    to give you an idea how much my bill is.... it's awful.
     
  7. Billct2

    Billct2 Major Contributor

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    Everything from COD to 60 days
     
  8. visual800

    visual800 Very Active Member

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    hell everyone i deal with now is PAY UP FRONT since the ecomomy flipped around on them they got left holding alot of debt.
     
  9. Mosh

    Mosh Major Contributor

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    I put everything on a Card and pay one everything with one check each month. Pretty simple.
     
  10. BigfishDM

    BigfishDM Merchant Member

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    You can get pretty creative by billing your CC at certain times of the month so you can actually take 90 days if you get billed right through your credit card company. Not many vendors will allow 60 days unless its a very profitable product for them.
     
  11. showcase 66

    showcase 66 Very Active Member

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    Net 30 for a couple of vendors otherwise it is COD. Usually put it on my card and pay it off each month. Try to at least.
     
  12. Mosh

    Mosh Major Contributor

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    Be sure to be careful on the card. One bad month and it can snowball on you.
     
  13. petepaz

    petepaz Major Contributor

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    we are net 30 with all vendors but some of my customers not so much. i have one that told me they pay in 60 days and if that's no good they will take the business else where. they are ok sometimes they get a little behind and we have to remind them by holding back on some orders till they get current.
     
  14. john1

    john1 Guest

    I just give my card info and tell them to bill it per order. My card has rewards so it helps with getting free stuff. No biggie.
     
  15. Mike F

    Mike F Active Member

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    Pay up front, no discounts since we only order a roll or two about once a month, but they do give us next day delivery and free shipping.
     
  16. showcase 66

    showcase 66 Very Active Member

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    Been there before. Took me about 10 months to recover. I have now set up another savings account that is my "vendor account" I make payments into that for their invoice and then send the card the payment each month. Much easier for us to keep track of this way.
     
  17. gabagoo

    gabagoo Major Contributor

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    I usually get my 30 days, then we put it on the rewards card extending my terms for another 2 or 3 weeks depending on the billing schedule.
     
  18. btropical.com

    btropical.com Active Member

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    Pay your bills same day ,demand same from customers . Or buy some shrimp on sale head on and get door pullers from Northern tool ect..
     
  19. Locals Find!

    Locals Find! Very Active Member

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    cash and carry with my suppliers. I pay cash and they carry it into the shop. Same with my customers except in reverse. You can't go wrong just paying upfront. I also get nice discounts because, I pay upfront everytime without hesitation.
     
  20. fmg

    fmg Very Active Member

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    net 30 with all my regular vendors on the off chance i need a roll or two from fellers I use a card.
     
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