Understanding the importance of quality supplier research.
Today’s post is by Tyler Walther, Account Manager for SafeSourcing.
When searching out new suppliers, or assessing the performance of current suppliers, companies should consider many aspects when evaluating their options. Several factors should be taken into consideration, some listed below:
- Commitment to quality—Product quality is normally regarded as the most critical factor when selecting a supplier. Specifics in this area include the suppliers’ process control methods, their quality control certifications, its approaches to preventive maintenance, and its methods of equipment calibration
- Communication—Suppliers that do not maintain a policy of open communication—or even worse, actively use deceptive tactics—should always be avoided. The issues of dealing with these companies will normally result in negative effects. Additionally, allowance of such tactics will have an adverse effect on internal staff.
- On time delivery—Businesses planning is frequently forecasted on schedules, which in turn are based on receiving shipments at agreed-upon times. When those shipments are late, business plans suffer. This can be particularly problematic if the supplier is inattentive or late in reporting the delay.
- Financial stability—Businesses that allot large amounts of money for purchasing materials often prefer to contract deals with suppliers that are financially stable. These relationships not only bring security, but they allow companies to learn about the other and gain a better understanding of each business’s needs, wants, operating processes, and planned goals.
- Flexibility and special services—Many purchasers express their thankfulness for suppliers that take extra steps to satisfy their customer’s needs. These benefits can range from after-hours availability to training or inventory support.
- Ability to offer technical assistance—Suppliers with worthy technical support capabilities can be quite valuable to purchasers, providing them with substantial savings in both cost and quality.
For more information on how SafeSourcing can assist you in exploring your procurement solutions for your business, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.
We look forward to your comments.