As I sometimes like to do, today, I’m going to write with regard to a search phrase that found this blog. The phrase is: “risk of non maintaning [sic] of approved vendor list”
For the Vendor
The risks on not maintaining the approved vendor list depend which side you’re coming from. If you’re providing services to a customer and they want to do business with companies on their approved vendor list, you risk making no more sales to them if you don’t maintain your preferred vendor status.
However, it’s not that simple a decision, of course. If the customer hasn’t actually been using your services, it could be that maintaining your status costs you more than what you think you’ll receive back. It’s not just the time it takes to maintain your status, but it does sometimes cause you to incur costs you might not otherwise have incurred if it weren’t for that customer’s requirements. There could be special insurance or a higher level of insurance they require that you’ve been maintaining “just in case” they deem to some day use your services.
I’ve been through this, myself. It’s a hard decision. After all the money you’ve spend and all the time you’ve put into it, it’s hard to just cut it off but there comes a time when you do sometimes have to just that. And, if your experience is like mine, those customers will beg you not to leave the list because they were “almost ready” (after years and years) to give you some work. Sit back and evaluate it calmly and as logically as you can because, honestly, the hardest part of this is to think of all the resources you wasted on it and you can easily become too emotionally attached to it and just waste yet more.
For the Customer
If your company requires that you only use your preferred vendor list and if you don’t keep companies on it that can service your LIMS, ELN, LES or whatever you need, you risk that you’ll be scrambling to get companies on that list when you need them. Just because there are many companies out there doesn’t mean they’ll be willing or able to get onto your list when you need them to. Nor does it mean that they’ll be the right fit for what you need. Build relationships with these companies ahead of time and work with those that are most flexible. When it’s time for your work to be done, it will hopefully be a less panicked experience than if you let these companies all drop away.