Dubbed the “Lowest Overall Cost program,” the new strategy, according to Reliable Silver COO Stan Steinberg and the new management team, is based on adopting sound business practices from various industries. Primarily, it addresses the financial impact of job components throughout the process from materials planning, inventory management, ordering, timely deliveries, production, and payment. The end result is pricing of quality, custom-fabricated products with flexible terms to meet customer needs, expectations, and desired outcomes with regard to production, profits, and growth.
"We put customers at the center of our planning,” Steinberg explained. “As timing is everything, we address the most relevant concerns, which, at this time, are the economy and business costs. Then we put together programs that can help our customers. In this case, we look at how we can lower the overall cost on their use of precious metals.”
As an example of helping customers mitigate costs, Steinberg said the company uses only high-purity virgin silver (99.99%) in its fabrication of anodes, wire, and strip. This, he said, eliminates the problems that impurities present in the form of product waste and production stoppages. Furthermore, Reliable Silver reviews with its customers the cost of inventory, shipping, and terms, then jointly set goals, measures performance, and adjusts as necessary to achieve measurable improvements.
"Our commitment is that we work hard to win customers, and even harder to keep them,” Steinberg said.