USA vendors in each market and have both parties agree to a set labour and material pricing through one statement of work that would apply to all properties within a given market . This resulted in the dissolution of the bidding process and reduced the vendor pool by a significant volume . The contracts with suppliers and distributors for the price of materials meant Main Street Renewal can renovate homes at an all-in cost that ’ s below market and their competitors .
Agreeing to standardise pricing didn ’ t guarantee work as potential vendor partners needed to meet additional standards of quality and timelines to become a primary vendor . Once on-boarded , vendor partners needed to maintain those standards to continue receiving work . Main Street Renewal would fulfil its side of the relationship by providing volume , material price , and payment timelines with a reporting cadence implemented to provide feedback to vendors on both theirs and Main Street Renewal ’ s performance . Vendors were initially wary of the new process but warmed up quickly when they realised volume and material premiums could provide a steady income stream .
The relationship between Main Street Renewal and its vendor partners is a two-way street , encouraging both sides to perform to a high standard . “ If we have a vendor whose performance starts to slip , we prefer to spend the time and invest in that vendor – to give them the opportunity to turn around , to share with them what ’ s going on , to give them ideas and tools and help them potentially perform better ,” Cavanaugh explains .
High standards Maintaining high standards is key to the success of Main Street Renewal clients , both investors and residents want to get the best value for their money . “ When we walk through a house with an investor , it ’ s always worth hearing the feedback from their point of view , often it is this is a higher level of standard than what they were expecting ,” states Cavanaugh . “ That ’ s really attributed to the people who develop and support the processes we have throughout our entire supply chain , everyone
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