THE MORE-PROFIT TIME TO BUY 143

order in the exact sequence received. Customers knew
they could not get deliveries at the time they wanted them
unless they placed their orders before the output for that time
was sold.
When panic came, this company’s orders did not suffer
badly from cancellations. Customers knew that other years
were coming and had no inclination to offend so dependable
a resource by canceling unfairly, thereby running the risk
of being set down as undesirable customers and of having
their orders refused in subsequent years when normal conditions
 returned.
Thus the company’s steadfast adherence to a sound policy
kept it supplied with orders to fill out part of the panic period
but not enough to see it clear through.
When, a little later, this corporation began to feel the pinch
of insufficient demand, it met the situation by making up
samples at prices so low that the orders obtained on this
basis were filled at a real loss as long as the factories used
raw materials they had in stock at the market prices prevailing
 before the panic.
But soon the factories had orders for a great quantity of
goods. They used up the raw materials on hand and needed
fresh supplies.
When this time came, the company benefited by the fundamental
 rule already mentioned. I¢ bought when its competitors
 were not buying.
This company was then practically the only customer in
the market for raw materials.in considerable quantities. It
supplied its needs at prices so low that the loss which had
seemed inevitable was turned into a substantial total profit.
In the ordinary course of business we cannot always adjust
all of our buying exactly to the fundamental rule. It is
more important to have the goods customers want than to
have bought everything to the greatest possible advantage.
We can, however, follow the rule to a very great extent if we
keep it firmly and continuously fixed in mind. We must
employ foresight. We must comprehend the factors that
determine when the manufacturers are to be busiest. We