Why is a PSL important and why should you review it regularly?

Is your PSL giving you hell?

We all know preferred supplier lists are important, but do you really know why? Most companies will have a list of suppliers they use for various services, from company stationery to recruitment partners. In some cases these suppliers will have presented their services up against other competitors and worked hard to be part of a PSL, while others will have got lucky and been selected as part of a quick decision as there was a time pressure on the service the client needed.

PSLs are hugely helpful when you need a quick turnaround, a trusted supplier is needed and you want someone who knows your company and its needs. However if PSLs are not managed correctly, they can cause you to miss out on savings as well as a better quality of service elsewhere.

If you allow your PSL to become stagnant, your suppliers can become complacent. They know they are part of your PSL and if you need their services you will invariably go to them. They may not be working hard to offer you the best services and best price because they already know they are your go-to people for the job. When this happens, your business will suffer.

Many of our clients were previously happy with their existing PSLs, they got the job done and that was it. We were then given the chance to prove that by expanding their PSLs meant that their suppliers would be more competitive and it allowed us to demonstrate our excellent level of service. We then became the preferred supplier on many new client’s PSLs.

Some firms are hesitant about increasing their resourcing partners as they worry about being bombarded with CVs for every role, however Stage have a 2 CV approach and we only send over the CVs of the best 2 candidates, so we don’t waste your time!

Now is the perfect time to review your PSL, so why not give Stage a call if you’re looking to cut your resourcing costs. Call us 0207 969 2703

 

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One comment

  1. Suppliers need to be examined as part of a regular process analysis called kaizen to make sure they continue to be of benefit to the company.

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