Bye, Bye, Buying Power!? You’re at risk, and you probably don’t even know it.
The financial supply chain bubble is bursting… You’ve been more focused on the lack of physical inventory but probably haven’t realized that you’re teetering on a precarious cliff of not having the credit to continue buying from your existing vendor base. This problem caused a large furniture retailer to lose $59 million in purchasing power overnight. Learn how and why your business is at risk and what immediate steps you can take to prevent falling off the cliff.
HFA’s CEO, Mark Schumacher, will be addressing this impact to furniture retailers with Michael Baron, President of Baron & Associates (specialist in credit forecasts & accounts receivable protection), Michael Hudgins, Managing Director of CIT Commercial Services (a top 50 U.S. bank), and Larry Furiani, Vice President of Dealer Relations eCommerce at Coaster.
- Your ability to utilize credit to complete purchase orders may be at serious risk today.
- Furniture manufacturers can manage their own risk, or they can outsource that risk to factors or utilize trade insurance.
- You must assume that your creditworthiness is under review.
- You need to proactively contact your suppliers, develop relationships, and create open communication.
- You must ask “Am I being insured?” and share your situation proactively