Your business is only as exceptional as the goods or services it offers, and to get exceptional products, the right supplier is a must.
Whether you’re starting a new line of products from scratch or looking to revamp your shelves, here are five qualities of a reliable supplier to prioritize.
Complying with ethical codes shows that the supplier is responsible and committed to meeting the industry’s standards and expectations. It also depicts value for integrity, a reference you’d wish to see in your new supplier.
Conversely, compliance with social ethics verifies that the supplier values its workforce. So, should you choose to work with them, you can rest assured that the supply won’t be cut short by factors like labor unrest.
The supply chain is complex. No doubt you’ll experience a few mistakes in your daily operations. It can be a deficit in volumes of supply or inconsistencies in invoices.
Accountability ensures that the supplier can stand by decisions and behave responsibly to correct damages. It helps build trust and strengthen the bond between you two.
Working with an accountable supplier means you won’t expect the supply to drain because of small misunderstandings. Instead, you can sit and agree on streamlining the supply chain process using quality-control tools to conquer supply chain risks. By the end of it, both of you will enhance trust and enjoy a long-term relationship.
It’s normal for clients or customers to make orders with seemingly unrealistic timelines. And if the business doesn’t have a backup inventory, you must quickly communicate such orders for a fresh supply.
Choosing a supplier with excellent communication ensures you meet tight deadlines more efficiently. Additionally, it helps the business click all touchpoints in the supply chain and meet long-term objectives.
Delivery capacity is a critical concern when evaluating a supplier’s scorecard. When you make an order, you expect the supplier to respond, acknowledging the receipt of the order. Next, you’d want to see them deliver on time, with accurate records of items you ordered.
If they can’t deliver, then it means they don’t meet your expectations and will hardly fit your clients’ requirements. Further, it means the supplier can reduce their inventory levels without considering how such a move can impact your operations.
If your supplier is a manufacturer, make sure to evaluate their production, distribution and supply capacities.
Your supply demands will change depending on a score of factors like ever-fluctuating customer demands. So the supplier you chose should also be adaptable to match the requirements.
Additionally, the supplier should be flexible to account for different orientations and team dynamics as they emerge. Only this way can the two of you enjoy a reputable association and strong relationship that spans years.
Finding a reliable supplier has never been an easy task. While it’s true that several suppliers are willing to work with you, only a few will match your customers’ requirements and business culture. It’s worth it to do the research so you find a supplier that fits your needs.