Management is a key requirement in every sector, it really doesn’t matter the kind of management. But when it comes to the property market, the risk increases. This market has been indulged in the activities which benefited society at large. So the work associated with this need to be done carefully and on time.
Vendor and suppliers are the persons who work as a co-actor in the movie of making heightened buildings. These people provide material starting from the very basic thing i.e. cement to the other luxurious housing equipment. But everyone knows that their needs have to be the consideration from both the side. Even in the ancient era when barter system existed at that time also, for one thing, there is something else. But nowadays vendor management is becoming very difficult for the real estate companies. According to VC and MD of Sobha Ltd. JC Sharma, “If the performance of a vendor is found to be below average, he will be informed about the same and given a chance to improve his performance in the next quarter. If the performance continues to be below average in the next quarter too, the vendor will be suspended. On a monthly basis, the need to locate new vendors is assessed, considering all cost-reducing measures".
The companies themselves are responsible for this. During this due course of this demand and supply and even after completion, these companies or builders made vendors to suffer loss. Sometimes it becomes impossible for a company to provide payment on times. And many times it is deliberately done. Now it reached the position that vendor doesn’t want to enter into a contract with these companies. They are also there for doing business not to suffer losses.
Courtesy/By: Priyanshu Gupta
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10 Mar 2018
