Suppliers

“If our suppliers are sending us gifts in the mail, that's a really bad sign. It means we're overpaying. If our suppliers are telling us they never want to speak to us again, it means we're getting the right price.”

“Some of our suppliers were upset, and they felt like somehow we are turning our back on them, which of course in a way we did because we stopped ordering certain things”

“We're seeing projects that are being paused, that are being delayed. We're seeing suppliers that are rethinking their strategy and what makes sense and what doesn't make sense.”

“If you have a critical partner like your bank or like your fulfillment center or some supplier, like you should be going out to dinner with them. You should be attending their, you know, kids wedding and going and really getting to know them because At the ver…”

“The average restaurant in the US and Germany orders from four and a half different suppliers. Yeah. So say one for fish and one for meat and one for drinks and so on. France we had nine, much more specialty, more focused on food and so on and so forth. In Spai…”

“30% of our core bill revenue comes from suppliers that are making a choice about a payment.”

“Get your second sources now when you do not need them.”

“The methodology creation itself is often conflicted, where the supplier is paying the registry to create a methodology for them, which has some obvious issues. Or they're using some other one that some other supplier created.”

“So convincing them to work with you is almost like pitching investors. Like, they need to believe that this is going to work, and they're going to make their money back.”

“We've got suppliers that probably do a better job at what we were doing back then than what we did.”

“Expecting suppliers to come to a bunch of portals just didn't happen. And so you end up having software would not create data. No way of really connecting this information together. And so a large enterprise were really operating blindly, not having a lot of v…”

“So today when we onboard suppliers, we collect 202 free data points per supplier, you know, starting from who they are, what machines they have made before, what, who are their customers.”

“Our suppliers are going to take exactly as much interest in us as they believe we're taking in them. And when they know we're on their side, they're going to want to see us succeed.”

“The Kirana store, you know, on a typical basis actually deals with over a hundred to a 125 different suppliers today.”

“If you think about a value chain for an industry, so companies and suppliers and so forth, that if one part of the value chain, so for example, if a customer does poorly in an earnings report, for instance, it likely indicates that the supplier is going to do …”

“If you just take the time to get the right people in the room, and actually kind of talk through your vision, you can ask for what the big guys get, and you'll be surprised, and it doesn't take much time, And you'll get significant payback in terms of margins …”

“It's an arrangement that really does not require a service level agreement with our suppliers. It doesn't require any commitment for them to provide us any, you know, specific amount of machines. The reason for that is we've built a grid, so if one supplier's …”