Think You’re Saving? The ‘Cheap Supplier’ Trap That Costs UK SMEs Millions
Ever noticed how your ‘bargain’ supplier keeps you awake at night?
Your reality right now:
- Constant quality complaints from customers
- Missed project deadlines piling up
- Emergency replacements eating into profits
- Your brand reputation taking hits daily
Here’s why: Chasing the lowest price is like building a house on sand – it looks stable until it isn’t.
The truth? UK SMEs lose £2.8M annually on average by prioritizing cheap over quality.
The solution isn’t complicated:
- Choose suppliers based on total value delivered
- Factor in reliability and consistency
- Consider long-term partnership potential
- Look at their track record
Companies that made this shift saw:
40% fewer customer complaints- 60% reduction in emergency fixes
- 85% improvement in delivery times
Stick with ‘cheap’ suppliers and you’ll keep:
Losing customers- Bleeding money
- Damaging your reputation
- Fighting fires daily
We help businesses build resilient supply chains that actually save money. Want to see how other UK SMEs transformed their operations?