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Vendor Diversification: Less Risk, More Reward

What happens when your reliable supplier becomes less reliable? When your supply chain experiences natural disaster, economic issues, or political strife, you’re stuck with no stock and a horde of customers expecting their products to come in. Supply chain diversification reduces the risk of your company suffering along with your supplier. It’s not just a ...

Taking the Eggs Out of the Basket: Diversify Your Customer Base

Ever heard the phrase “don’t put all your eggs in one basket?” In the business world, we adhere to this through a process called customer diversification. In short, it involves making less than 15% of your total sales with one client, spreading your metaphorical “eggs” into several different “baskets.” Relying on a single, huge sale on ...