The growing pains of starting a new company never seem to
The growing pains of starting a new company never seem to end. Although George had no control of the parts arriving late, he has learned the valuable lesson that establishing a backup supplier is essential to assure a reliable supply chain. And, the late delivery penalty is the right way to go.
George chose a relatively small parts supplier that was either not equipped (they installed new equipment which they say caused the delay) or did not realize the tremendous potential for future orders from Coates and did not give the delivery the priority George needed. They will have to "ramp up" their parts production to be competitive in the future. This late delivery has resulted in increasing their competition. Growing pains?
Thanks to GC for informing the stockholders.
Coates International (COTE) Stock Research Links
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