Any product that you sell will need to come from a supplier. It might be the parts you need, or it might be a completed unit. Either way, you need to select suppliers that meet your needs carefully.
Your supplier will be one of the main deciding factors on the price point of your final product. Once you factor in their costs, including parts shipping, any bespoke CNC machining services, and anything else you have in your control requirements.
So how can you choose the best suppliers for your company? And which qualities matter the most?
Photo by Mech Mind on Unsplash
Although you will provide all of the information for the materials, parts, or things you need, it is down to the supplier to make sure what you get is perfect. If there are defects, untrimmed threads, or the garments have tears in them – that is the supplier’s fault.
You need to know that when these situations arise – and sometimes they do, your supplier will take responsibility for it.
Before signing any contracts, ask them what the procedure is to check for quality and the process if the goods aren’t up to standard.
Not all suppliers are equal when it comes to expertise in your field. It can be beneficial for you to work with companies that have produced similar items in the past or do so now. This will mean they are already familiar with your industry and the standard of materials required.
If you need to check this, you can ask a few of these questions:
- Where do they supply the majority of their products?
- Are they familiar with the legal requirements for the product when used for the purpose you require?
- Do they have a steady set of their suppliers?
- Do they ever subcontract work out?
While you might need a small amount of product to start with, does the supplier have the ability to scale with you? As you grow your business, staying with suppliers that understand your requirements and can scale is more beneficial.
You need to know that the supplier can keep supplying the quality you need in higher quantities.
Ask them how scaling would work if you suddenly needed thousands more of the item from them.
If you have a particular working style, the supplier you choose must be a culture fit with that. The best supplier for you might not be the same supplier working with all the companies in the region. You might need to look further afield for what you need.
The supplier you choose must have goals and an attitude that aligns with yours as much as possible.
No matter how good the supplier appears to be, it can be challenging to know if they are the right company for you if you don’t have access to some samples. In some cases, you might need to run your test using their MOQ.
See what options you have available for testing their services ahead of any contracts.
One of the most critical factors for many businesses is the bottom line; there is often plenty of room to make some savings with your supplier: Tips To Help Save Money On Suppliers.
And for more tips of finding the right supplier: 4 Top Sourcing Tips To Find New Quality Suppliers In 2022 | Investor Square | Investor Reviews and Online Community