Unexpected increases in costs can have a significant impact on your bottom line. Beacon works on your behalf to mitigate and manage price increases.
Did you know that if you didn’t trade with your suppliers through Beacon, that you could be hit with an unexpected price increase with as little as 7 days’ notice? With Beacon this will not happen... guaranteed!
As you know, planning your remaining budget for the rest of the financial year and beyond should be at the top of your list. We all understand that price changes are inevitable so here at Beacon, as per our agreement with you, our customers, we will always seek to challenge any price changes that we receive from our suppliers as well as making sure that justification is given as to why a product line is changing in price. Part of this agreement will be to continue to enforce a 30 days’ notice period with our suppliers, allowing you time to plan for any changes within your business such as altering menu prices or adjusting room rates to compensate and reduce loss of income and the impact on your bottom line.
Influencers impacting pricing structures could be a national or worldwide shortage in raw materials, inflation, general seasonality changes or potentially adverse weather conditions and it is our job to understand these influences and challenge directly with suppliers where necessary.
We have recently sent out price change notifications in the office supplies category, highlighting that whilst changes have taken place due to the cost of raw materials, over 1000 product lines have remained the same price and over 300 have actually been reduced – this positive message is all testament to the strength in relationships that Beacon have with our suppliers.
Budget duty changes* will also be published in March, affecting prices of certain products and services. Beacon will continue to share any of the impact of this with you as it is released.
*Please note that budget duty and any government enforced price changes may result in less than 30 days notice from Beacon and our suppliers.
If you think there are additional contacts within your business that need to receive price change notifications, simply send their name and email address to email@example.com and we will be add them to our mailing list.
Should you have any questions or concerns about any forthcoming price changes, please contact your Beacon Account Manager who will be able to help you.