Choosing the right supplier involves much more than scanning a series of price lists. Your choice will depend on a wide range of factors such as value for money, quality, reliability and service. How you weigh up the importance of these different factors will be based on your business’ priorities and strategy.
A strategic approach to choosing suppliers can also help you to understand how your own potential customers weigh up their purchasing decisions.
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Our extensive consultancy services are supported by best quality testing and research equipment to the polymers and plastics industry. We can respond quickly to your needs and can provide the precise information that you need. Our consultants are experts in their fields, with decades of industry experience.
What you should look for in a supplier?
Reliability – if they let you down, you may let your customer down.
Quality – the quality of your supplies needs to be consistent – your customers associate poor quality with you, not your suppliers.
Value for money – the lowest price is not always the best value for money. If you want reliability and quality from your suppliers, you’ll have to decide how much you’re willing to pay for your supplies and the balance you want to strike between cost, reliability, quality and service.
Strong service and clear communication – you need your suppliers to deliver on time, or to be honest and give you plenty of warning if they can’t. The best suppliers will want to talk with you regularly to find out what needs you have and how they can serve you better.
Financial security – it’s always worth making sure your supplier has sufficiently strong cash flow to deliver what you want, when you need it. A credit check will help reassure you that they won’t go out of business when you need them most.
A partnership approach – a strong relationship will benefit both sides. You want your suppliers to acknowledge how important your business is to them, so they make every effort to provide the best service possible. And you’re more likely to create this response by showing your supplier how important they are to your business.