Does your business rely on at least one supplier? Or do you need multiple suppliers in order to perform your daily operations? Either way the quality, reliability, and value for cost of your suppliers and supplier vetting is crucial to your organization’s success.
On the other side, if your suppliers don’t live up to the standards you require, your organization can be damaged.
Suppliers can tarnish your reputation by causing you to deliver unsatisfactory products to your customers. A supplier with internal problems can delay your orders, making you miss deadlines and break promises. Late or low-quality products could cause you to lose major customers or be forced to process refunds.
It’s vital, then, to use a consistent Supplier Management system to vet excellent suppliers and secure the ones that will help your brand to stay strong.
Continue reading “What is the Best Supplier Vetting Process?”