When you have finally decided on a product to source, the next thing to do is find the right supplier. The best option is to look for one locally first as this will save you some money in freight and tariff. The second option will be importing. In any of the cases, you should have a criterion in choosing the most suitable supplier.
Here are my 6 tips on how to qualify a supplier.
- The most important criterion would be the quality of workmanship. The supplier should be able to follow the detailed specification of the product.
- The supplier must be reliable. The delivery lead time is vital to your business and should be followed all the time.
- Another important criterion to consider is the stability of the company. The supplier must have the capability to manufacture your order volume within the specified time in the contract.
- The supplier should be willing to have a long-term business relationship.
- The supplier must also have good customer service and should be accountable for any breach in the contract terms and conditions.
- The supplier should be willing to negotiate the price based on the volume of the order.