Your choice of suppliers for your business is an important one. The wrong choice can easily sink your business. But with so many of them out there, it can be difficult to select the right one. To narrow things down, here are some qualities to look for in a good supplier.
Unless your supplies are from a particular region, then the location of your supplier can be very important. The more distant they are, the more expensive it is to deliver to your company. Additionally, the distance can make delivery times highly situational. Many things can happen on the road. It is better to have a supplier close by who can deliver supplies on time with lower freight bills. If you do have to use a distant supplier, ask about their freight policies on large orders. You may get a discount and ensure you have some extra stock in case of delays on the next delivery.
For some companies, you may need materials with a specific level of quality. For example, if you are manufacturing electronics for the aerospace industry, then you will need suppliers that can provide AS9100 PCB. The best way to ensure that your supplier can deliver on this is to visit their factory. This allows you to see the actual conditions of how they make your base materials. Be careful of any supplier that is unwilling to let you drop by. Besides that, you should also get a product sample to see whether it meets your requirements.
Prompt And Safe Delivery
You want your supplies to arrive on time and in good condition. Later supplies can cause a loss for you as delays pile up. Avoid suppliers that have a reputation for late deliveries for no reason. Besides being prompt in delivery, you want a company that can deliver your materials in good condition. For example, if your fabric order has stains, then they might be unusable. Talk with your supplier to ensure that you get materials you can use with no problems.
Open and direct communication between you and the supplier is important. They need to respond to your e-mails or calls promptly. They should also be telling you the state of your order. For example, if there will be delays or price increases, they have to give you enough warning. If they follow-up with how they will try to prevent it from happening in the future, then you’ve got a good supplier.
The Right Price
Supplies cost money and many companies often choose the cheaper option when it comes to buying supplies. But low-quality supplies can cost you more. It can also damage your business when you sell products made of shoddy materials. When looking for a supplier, you need to balance your need to save money and getting good supplies. Negotiate with suppliers so that you get a fair price. Note that if you do get a good deal, then you should pass that on to your buyers by lowering the price.
Great suppliers ensure that you have everything you need. Take to account the above qualities so that you can correctly judge which suppliers to sign contracts with.