Construction Vendor Strategy: Stay Ahead of Price Increases

In this portion of the webinar, what we wanted to speak to were just a few smaller things that you could be doing, and I want to address a couple. One of them right off the bat is communication with your vendors. Obviously, they're under a lot of pressure right now, your suppliers specifically. But you're an important part of what they do, communicating with them, indicating to them that you need notice, that you want to have notice when price changes are going to happen. The number of folks who said that they want to do some pre purchasing or some some bulk purchasing in advance, knowing in advance from the supplier that a change is coming, that a price update is coming, gives us the opportunity to do that. So if you don't have a great relationship, a big communication with your suppliers, this is the time to start establishing it.