Setco values the contributions of suppliers in the growth of our business over the years and their sustained support to our business has resulted in their being recognized more as “Partners in Progress”.
Over a period of time we have successfully managed and forged our supplier relationships realizing that it can directly impact the company’s financial performance & profitability. Suppliers influence product development costs, inventory levels & manufacturing schedules by timely supply of goods & services. Market trends such as increased global competition & shorter product life-cycles have prompted Setco to forge an improved relationship with its suppliers which helps in reducing costs associated with materials. Setco & its suppliers work on a continuous basis towards reducing Total Cost of Ownership for procured goods. An integrated & well-connected Supply Chain has helped Setco in lowering its material costs & be competitive in the domestic as well as overseas marketplace.
Setco has also realized that the supplier’s long-term financial and operational contributions are the key success factors in impacting the top & bottom lines. Our attitude and relationship with the suppliers matters a lot for the success of our business.
We also believe in sharing our business processes with the suppliers. When suppliers are viewed simply as commodity providers, they are generally not given an opportunity to learn the details of business or its vision for the future. However, our “Partners in Progress” are encouraged to become knowledgeable about the company, its processes, products, and goals for a long and symbiotic relationship.