Watch out! You could be blind-sided by yet another casualty of our faltering economy.

In this case, it’s the possibility that your suppliers could suddenly go belly up.

One worst-case scenario (and it has happened): The supplier who provides nuts-and-bolts goods, like packing materials, leaves you in a lurch. Result? Some companies have been unable to ship product.

Of course, you want to make contingency plans for where you could turn if one of the suppliers fails.

You might be able to detect which suppliers are feeling the squeeze the most. Some have fallen behind in paying their own suppliers, which has slowed the flow of materials they need.

Before you pull the trigger and switch suppliers, consider taking a supportive stance. After all, you probably have a long track record with these guys, and it’s tough to break in a new supplier. Add that to the fact that a new supplier is more likely to make mistakes, and it’s worth your time to take a second look.

One strategy: Your company can offer to buy the materials the supplier needs, and then receive a discount on the finished product.

If your buying power is strong enough, you might even be able to earn a bulk discount and lower your own costs further.

Tags: discount, materials, product, suppliers