How To Find The Right Suppliers For Your Business

 

When choosing new suppliers for your business, you need to take into account a number of different things. How you weigh up the importance of these different factors will depend on your business priorities and strategy. This will help you to decide what you need from your suppliers, find potential options, and choose the best people to work with.

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What You Should Look For In A Supplier

There are a number of things that you should look for when you are looking for and shortlisting potential suppliers, whether for packaging or specialist equipment like high precision industrial scales.

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Quality And Reliability

You need suppliers with consistent quality. Your customers will associate poor quality with you, not with your suppliers. If your supplier lets your down with faulty supplies or late delivery, you might disappoint your customer.

Speed And Flexibility

Flexible suppliers should help you respond promptly to changing customer demands and any emergencies.

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Value For Money

The best value for money is not always the lowest price. If you want a supplier who offers reliability and quality, you need to decide what you’re willing to pay for it and the balance that you want to find between cost, reliability, quality, and service.

Strong Service And Clear Communication

You need your suppliers to deliver on time or to be upfront and tell you well in advance if they can’t. Look for a supplier that will talk to you on a regular basis to find out what needs you have right now and how they can better serve you in the future.


Financial Security

It’s always worth making sure that any supplier you work with has strong enough cash flow to deliver what you want when you need it. A credit check will help to reassure you that they won’t go out of business when you need them.

Finding And Choosing Potential Suppliers

You can find suppliers in several different ways. Create a shortlist of possible suppliers through a combination of sources to give you a wider base to choose from. These sources could include:

  • Recommendations from friends or business acquaintances
  • Directories
  • Trade associations
  • Business advisers
  • Exhibitions
  • Trade press

Drawing Up A Shortlist

Once you have a clearer idea of what you need, and you have found some potential suppliers that could work, you can start on a shortlist that you think will meet your needs. Ask these questions:

  • Can these suppliers deliver what you want, when you want it?
  • Are they financially stable?
  • How long have they been established?
  • Do you know anyone who has used them?
  • Are they on any approved supplier lists?

Once you have narrowed down your shortlist to a manageable amount, approach the potential suppliers. Give them a clear brief on what you want and give them an idea of the amount of business you intend to give them. When they respond, compare the suppliers in what matters most to you. It can help to meet these suppliers face to face and see how their businesses actually operate. Lastly, make sure to contact professional Industrial Equipment Delivery services for your equipment delivery needs.


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