Better Contractor Buying: Don't Let Hard-to-Find Parts Slow You Down

Raiven contractor buying

Author: Brett Knox
January 30, 2025 - 4 MIN. READ

Contractors are no strangers to supply chain challenges. Fluctuating prices and long lead times have become a reality since the pandemic.

For many, these challenges are cutting into profits, but better contractor buying strategies can help overcome delays and shortages.

Hard-to-find parts shouldn’t stop you from winning bids or finishing jobs on time.

Communication Is Key to Better Contractor Buying

How often are you in touch with your suppliers? Reaching out for inventory updates from their side is a smart strategy. Besides asking about stock, you might get updates about expected price changes, which is extremely valuable given that some materials and parts have increased by 40% or more since 2020.

Not all suppliers take the time to communicate about inventory levels, expected lead times, and upcoming price changes. Reach out to your preferred suppliers and do your best to maintain an open line of communication. If a supplier isn’t doing their part to keep you updated, it might be time to explore alternatives.

Communication also needs to happen with your customers. Keep customers informed about delays and discuss alternatives to maintain trust.

Bulk Buying and Inventory Management

Supply chain challenges aren’t new. Over the past few years, you’ve likely noticed that some products are harder to find than others. For instance, electrical contractors are reporting lead times of up to 52 weeks for switchboards, a delay that can increase to over 84 weeks for models with power circuit breakers of over 3,000A.

Bulk buying can be a smart move for consistently hard-to-find products. Adjust inventory management to stock up on hard-to-find parts well before running low.

Redundancy Gives You Alternatives

Preferred suppliers help with cost projection and ensure access to parts and materials that meet your quality standards.

However, when lead times increase and parts become hard to find, redundancy is just as important. The key is to plan ahead instead of scrambling to find an alternative at the last minute:

  • Put together a list of pre-approved alternatives. They can be similar products and services, alternative suppliers, or another buying platform you’re willing to use.
  • Have a go-to workflow for checking your pre-approved alternatives if a part is out of stock or delayed.
  • You should also have some best practices for identifying another option in case your pre-approved alternatives are not good buying options for a specific part.

Having these best practices in place keeps you reactive in case a part is out of stock and also ensures employees will make good decisions if you’re delegating buying. Plus, these alternatives aren’t just for out-of-stock parts. With inflation affecting prices, having a backup option means you don’t have to pay higher costs if a supplier decides to increase their pricing.

Examples of best practices include:

  • Compare pricing between three or more alternatives.
  • Conduct due diligence regarding product quality.
  • Check with industry connections for recommendations.

Smart Bidding Starts With Supply Chain Awareness

Because long lead times and shortages continue to be a reality for contractors, it’s necessary to take your supply chain into consideration when bidding on a job.

Adjust your bidding strategy with these tips:

  • Base estimates on the latest part and material pricing to ensure accurate bids.
  • Check with suppliers regarding lead times and possible price fluctuation. Locate alternatives and inform your prospect if you expect delays.

Effective bidding starts with clear visibility into your supply chain. That’s why communicating with suppliers is key, but you should also leverage digital tools to access real-time pricing. Raiven’s bid management tool can help you streamline this process if you’re not using it already.

Can Joining a Contractor Buying Group Solve Your Supply Chain Challenges?

Joining a contractor buying group has several advantages. On top of benefitting from pre-negotiated discounts, you’ll get access to a pool of vetted suppliers.

Instead of identifying alternatives to your usual suppliers or going through a quick approval process for buying from a supplier you’re unfamiliar with, you can easily access a wide range of options and compare prices and products via a convenient platform. Plus, Raiven's supply chain alerts keep you up to date on pricing and inventory.

For many contractors like yourself, Raiven’s group buying program has become a lifeline amidst ongoing supply chain challenges.

Maximize your cost savings and simplify your procurement operations by joining a premier purchasing program like Raiven. With Raiven, businesses harness collective buying power to realize deep discounts, advantageous service terms, and priority access to critical supply chains. Eliminate the headache of vendor negotiations and enjoy significant reductions in expenses for EV charging stations, lighting, load shedding, tools, wire, panels, conduit, and more.
 
Gain access to pre-negotiated discounts of 7%-30% from industry-leading manufacturers and distributors, including Alpscontrols, ChargePoint, EnelX/Juicebox, Ferguson, Grainger, Graybar, HD Supply, Home Depot, Lowe’s, Office Depot, Sunbelt Rentals, Schneider Electric, and more!
 
Raiven is committed to supporting electrical contractors by providing unbeatable prices on equipment, parts, and maintenance supplies. Experience the convenience of our streamlined purchasing platform for quick and efficient procurement. Other key benefits:
Don’t let hard-to-find parts get in the way of profits. Visit Raiven to learn more about our group buying program.

Summary: Don’t let hard-to-find parts get in the way of winning bids and completing jobs on time. We explore strategies for working around supply chain challenges like out-of-stock products and long lead times.