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WE INTENTIONALLY AVOID RELYING ON JUST A FEW SUPPLIERS , MEANING WE CAN FLEX AND ADAPT WHEN CHALLENGES DO ARISE .

ensures we always pay into the right account , even when their details change . This makes paying suppliers so much quicker and easier for us .

How has it allowed you to negotiate better payment terms ?

The Xero platform helps keep us on track when it comes to paying suppliers on time and ensures no invoices are missed . This has helped us grow and maintain strong relationships with our suppliers , with many of them stating we are one of their lowestmaintenance accounts . This reliability has , on multiple occasions , allowed us to negotiate better payment terms and secure additional discounts due to the goodwill we have accumulated .

How does Xero help you figure out how best to work with suppliers ?

Creating and maintaining a good relationship with suppliers is one of the most important parts of running a business , and ensuring they are paid on time is a vital factor in this . Automating the management of these payments and providing clear insights into how this affects our cash flow means that we are better equipped to plan ahead . This gives our suppliers more time to prepare orders , avoiding last minute shortages or rushes . It also means we can avoid any cash flow crunches on our side .

What supply chain issues do you face ?

Like many businesses we face challenges around rising material costs , shipping delays and increasing lead times for customers . However , fortunately our supply chain is very resilient . We intentionally avoid relying on just a few suppliers , meaning we can flex and adapt when challenges do arise . Also , many of our suppliers are based in the UK , reducing delays and ensuring a steady flow of products . Taking this approach helps us to minimise stock issues and keeps our shops operating all year round .

What ’ s next for Fred Aldous ?

Our main goal is to last another century , and achieving this requires us to remain true to our identity and keep our uniqueness . This will only be done by focusing on our own products and constantly striving to inspire creativity in our customers . �

46 Intelligent SME . tech