The Fastest way to set up an Account With Suppliers

Have a generic credit application on hand. We even made a sample one you can use as a reference below. This is a document to provide basic info to a supplier about your lab that includes

  • Lab shipping and billing addresses, 
  • bank info and contact
  • FEIN and D&B number 
  • date founded and where it was incorporated
  • Contact email addresses for purchasing and invoicing

Credit applications generally also include trade/credit references. These are suppliers who can say your lab reliably pays its bills on time. 

This document can also allow you to get credit terms with a supplier. Rather than pre-paying for everything with a credit card, the supplier will invoice the lab and they will have 30 days to pay that invoice by bank transfer or other means. 

Suppliers Vary in Account Setup

Suppliers vary widely in their requirements to set up an account and extend Net 30 credit terms. The simplest is registering online and ordering (Amazon). Some suppliers require more work to set up account, but extend terms immediately (Thermofisher). Some are draconian, requiring the most stringent requirements like multiple bank accounts to check as well as full financials of the lab (BD Biosciences). 

Some account set up requirements are negotiable, some aren’t. No matter what though, a generic credit app will save your lab time in getting set up to order with suppliers.

Glossary of useful terms

FEIN – Federal employer identification number (like social security number for a business)

D&B number (DUNS number) – The D-U-N-S Number is a unique nine-digit identifier for businesses. It is used to establish a business credit file.

Credit application – vendor application to get Net30 terms extended

Credit terms – the company has extended a line of credit to you for making Net 30 purchases. There is a spending limit.

Example Generic Credit Application

A generic Credit application with key info to set up an account on Net 30 terms or when filling in a web form to set up a new account with a supplier.

3 Suppliers and What we love about them

suppliers we love for happy scientists

A virtual lab manager spends about 4 hours of their day navigating supplier websites. Placing orders, checking prices, hunting for tracking numbers, comparing product specs. The efficiency of a website influences decisions about which suppliers we do business with.

Many suppliers have brain cramping UX, but a few have done a great job with optimizing the user experience. Here’s what they do well.

3 Suppliers and What we love about them

1. Automatic email updates

New England BioLabs. Well known as @NEB. We love your automatic email updates for order confirmations, shipping updates, and invoices. Thank you for making our life easier.

McMaster also gets a shoutout for automatic email updates.

2. Online chat

Integrated DNA Technologies. Well known as @IDT. Your online chat has been very helpful recently with customer service. Quicker than a phone call. Friendly.

@P212121 also gets a shoutout for online chat.

3. Easy returns

Amazon. Well known as Amazon. We heart you for many things. But you are miles ahead of the competition when it comes to returns. Hassle free. Costless. Thank you for making it easy to receive a shipping label.

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If you want help with managing your lab, contact us…