Questions we are most frequently asked.
Q. Do you specialize in any particular size or type of laboratory?
A. We serve many types of labs: industrial, clinical, food and beverage, environmental, chemical, and more. However, we found that very small startup labs are not good candidates for our services. Very large labs with lab budgets exceeding $1,000,000 have a greater need for our consulting services to help them negotiate and audit distributor contracts.
Q. How does LPS get compensated?
A. LPS handles purchases for its clients in two ways: (1) Procurement Services – we purchase from your vendors on your accounts at prices you have negotiated. We charge a fee for doing this, which is variable based on the size of the order. (2) LPS functions as a reseller/distributor. If we can source the product at a lower price, we will sell that to you and you pay no fees. LPS makes money solely on the margin. Consulting and other services are billed à la carte.
Q. How can LPS save me money on freight?
A. LPS has negotiated a very competitive contract with FedEx. We pass these savings along to our clients (many vendors mark freight up by as much as 30% over the retail freight rate). If we are able to get free shipping from a vendor, we do not charge shipping. LPS pays particular attention to freight costs on every order. We save you money on shipping whenever possible.
Q. What kind of contract does LPS require to become a client?
A. Our philosophy is that we need to earn your business every day. If we aren’t doing the job to your satisfaction, you have every right to take your business somewhere else. We recommend, at a minimum, a mutual non-disclosure agreement to protect your and our information. A non-exclusive purchasing agency agreement along with a 3rd party account access letter of authorization is optional depending on your requirements. A credit application is required for purchasing on Net 30 terms and a tax exemption certificate is required if you are tax exempt.
Q. What if I’m not interested in Procurement Services and just want product at a good price?
A. The only documents that may be required is a credit application and tax exemption certificate if you wish to apply for credit. If you are paying with a credit card, then no credit application is required.
Q. Are there any fees that may apply?
A. There are no fees for the preliminary analysis (see response to question 3 above). The final analysis of your full usage list is the most labor intensive part of the setup process. A deposit may be required depending on the number of items ordered. This deposit is non-refundable if you decide not to proceed. The deposit will be credited to your account after six months of purchases.