I have been preaching for a long time that suppliers are critical to the success of any business. It seems like somewhat of a truism -- not difficult to comprehend -- but at the end of the day exceedingly difficult for many to "walk the talk."
It was somewhat refreshing to read the story of Sam Baio, CEO of West 49 in a recent edition of The Globe and Mail. His epiphany was borne out of a crisis when the Canadian dollar was close to par with the US currency and many shoppers were trekking across the border for the "better" deals.
Although the initial issue was reduce pricing (which he did get from suppliers), it seems that at this juncture he has moved beyond the typical supplier/client relationship -- still focused on the bottom-line, yet with steamlining systems, processes, inventory management, etc.-- hand-in-hand with the suppliers of goods.
This should not be heralded as rocket science, because its not. However it is nice to see a CEO understanding the 360 degree matrixed relationships within the business and noting how all aspects of the supply chain can severely and often irreparably harm business.
Suppliers need their customers to stay in business and customers need their suppliers to also thrive so
that the goods and services are available -- inevitably to service the end consumer.
It is sad when there are too many companies out there who like to take the 2x4 to their suppliers, with nary an askance glance at the potential deadly blow that they have wielded at their profitability.
West 49 provides some of the hippest garments for the tween and teen set. It is nice to see that their trendsetting ways also are evident in their business dealings!
Bravo Mr. Baio!
It was somewhat refreshing to read the story of Sam Baio, CEO of West 49 in a recent edition of The Globe and Mail. His epiphany was borne out of a crisis when the Canadian dollar was close to par with the US currency and many shoppers were trekking across the border for the "better" deals.
Although the initial issue was reduce pricing (which he did get from suppliers), it seems that at this juncture he has moved beyond the typical supplier/client relationship -- still focused on the bottom-line, yet with steamlining systems, processes, inventory management, etc.-- hand-in-hand with the suppliers of goods.
This should not be heralded as rocket science, because its not. However it is nice to see a CEO understanding the 360 degree matrixed relationships within the business and noting how all aspects of the supply chain can severely and often irreparably harm business.
Suppliers need their customers to stay in business and customers need their suppliers to also thrive so
that the goods and services are available -- inevitably to service the end consumer.It is sad when there are too many companies out there who like to take the 2x4 to their suppliers, with nary an askance glance at the potential deadly blow that they have wielded at their profitability.
West 49 provides some of the hippest garments for the tween and teen set. It is nice to see that their trendsetting ways also are evident in their business dealings!
Bravo Mr. Baio!
