Choosing Suppliers For Your Business

15 January of 2015

The right suppliers can make or break a business, the right suppliers provide the most suitable goods or services to you, at the very best prices! Not to menti0on in the right time frame that your specific business requires. Whether you have a thinking about starting a business, have a new start-up company or are already well established, it is important to have the right suppliers for you. How do you know your suppliers are right? Below we have listed some points that you should consider in relation to your organisation and suppliers.

How to find them?

Well now we have Google, it’s a wonder how we coped without it! However, the yellow pages was and still is a good way to locate local suppliers, manufacturers and wholesalers. Or why don’t you go networking? It’s a great way to meet potential companies face to face, hear all about their products and ethos. Key factors to consider when finally choosing the right company are; their price – perhaps ask them for a quotation, the quality of their products – if you ask nicely enough they will undoubtedly provide you with a sample. Remember to always compare and contrast quotes with other reputable companies, in order to make sure you are getting the best deal.

Price

Especially if you are thinking about starting a new business or are just a small company, a key consideration for choosing suppliers is affordability. If you are focused on managing your finances, competitively priced suppliers are an attractive option. However, be wary! Cheap does not always represent the best value for money and if the quality of your supplier’s product or service is poor, you may incur extra costs for returns and replacements, which will risk losing business with any delays that result. If you decide to pass poor quality on to your customers, you risk damaging your business reputation.

Reliability

Reliable suppliers deliver the right goods or services on time, as described, there are both advantages and disadvantages to using a supplier large supplier. They are generally reliable because they have enough resources and systems in place to make sure they can still deliver if anything goes wrong. However, you can develop a closer relationship with small suppliers – especially if you are their main customer, your need will be their priority! In the cases of smaller business, the supplier may also respond better to different requests, such as rush orders or holding on to stock. If you are a new, or small company then I would initially suggest using a smaller supplier company for your needs because you will be able to develop a close relationship, allowing you more flexibility from them.

Stability

Stability is equally as important at reliability, especially if you are entering into a long-term contract with a supplier or they are the only supplier of a particular item you need for your business. Always exercise due diligence, always check the supplier’s credit history to see if they are financially stable and it is definitely worth seeking some references, to make sure they are as good as they say they are!

Location

Dealing with distant suppliers can cause issues with late delivery times, extra freight costs and a delay in contact. However, if you seek a local supplier then it will give you flexibility to get items last minute, for example if you are desperate for some flyers for your next event, you are more likely to get quicker response from a local company because they may be able to squeeze you in! Try googling ‘printers Bedford’ or ‘printing services or East Anglia’, wherever you may be located and you’ll soon see some local companies!

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