Tips For Identifying Quality Suppliers

Most buyers focus on the best price when looking for a supplier. It can be costly to focus on cost savings in the long run. The reason is that focusing only on cost savings can be detrimental in the long term. Quality is not always top-quality and materials don’t arrive when they are needed.

  1. Certifications

Quality certifications are something that many buyers do not require. Suppliers sometimes make it difficult to verify the certifications. Look for suppliers that are certified according to your quality standard.

  1. Evaluate The Geopolitical Climate

While there may be some offshore resources that offer great prices, you might not have the product you need due to poor labor relations. Consider the possibility of unrest and disruption in the areas where you depend for supply chain success.

  1. Gauge Financial Stability

An informal Thomas net survey has shown that 50% of all buyers have had to work with suppliers that suddenly went out of business.

  1. Assess Weather-Related Danger

We’re all familiar with how disasters such as hurricanes or tornadoes, snow, rain, and droughts affect communities across the globe. These events can have a devastating impact on the supply chain, but the news rarely reports about it. When looking for chemical raw materials suppliers, consider the weather events that are most common to your region. Evaluate how these could affect your ability to do business.

  1. Align Manufacturing And Shipping Locations According To Your Needs

Depending on the manufacturing requirements, you can determine whether you require a multi location provider or a single store. Shipping capabilities and associated costs will depend on how many locations a supplier has to offer. You might be able to negotiate a cheaper price from a small business with just one location or by combining multiple suppliers to meet all your needs.

  1. Make Sure You Carefully Read All Information About The Product

It is essential to check the product descriptions and any related information for your application. Let’s say that a supplier took the time and provided product specifications. This is a good sign that they value your time and are willing and able to provide as much assistance as possible to win or maintain your business.

  1. Ask For Accessible Inventory Information

It can be beneficial to have visibility over your supplier’s inventory. It can show their commitment to your customer and their ability for you to get what you need when it is needed.

  1. Be Aware Of Their Scaleability

Be sure to find out how flexible your supplier is in providing small quantities and high volumes. Suppliers who focus on small quantities or prototyping will likely be able to provide them with prototypes and smaller quantities. If you find that you require large quantities of the product in the future, it could be difficult to keep up with your current supplier. If you know the growth trend for the product you’re sourcing, you can find a supplier that will be able to scale quickly to meet your changing demands.

  1. Check Out Their Commitment To Customer Services

It’s also worth reading the terms and conditions of their return policies. You do not want the bag to remain in your hands.

  1. Get Delivery And Lead Times Statistics

Industrial buyers are very important. Ask for their lead-time projections as compared to the on-time delivery rate. If they are not available, this is a sign they are not tracking or are not very good. Either way, it is causing to be concerned.