November 21, 2019
  • The Power of Applied Intelligence

3 Things to Consider When Choosing Suppliers

art of creating a business, is networking with other companies, finding people who can keep your operation running smoothly. Suppliers are one of these aspects. They are necessary for keeping costs low and maintaining schedules. For this reason, it’s important to take time to establish contacts and spend time finding the right places. Here are three things to consider as you speak with different places.

Experience

Spend time researching vendors, reading reviews and asking for references. Your supply chain relies on the ability to get parts. Therefore, you want to work with people who are professional and can guarantee deliveries. In addition, see how much the workers know about their parts. Can they explain why it’s better than others? Do they seem to believe in their work? Pick a group with a solid reputation.

Product Selection

Materials vary, and they offer different characteristics. Ask yourself what you need in the part. Then, seek out something that you can trust. For example, do you need coke oven doors? If so, then select something made that can withstand high heat and provide sturdiness.

Cost

Of course, you want to get a good price for the material. This means calling around and comparing services. Then, ask yourself why a company can offer a lower price while others cannot? Do they use different material? Are they cutting corners? Fall back on the research you did for the other products. If the business has a solid reputation and you know the product is strong and reliable, then pick the lowest bid. If you question the integrity at all, it may be worth it to spend a bit more.

Remember that your goal is to get your product on the market and make money. Just remember that the middle man, the supplier, plays a pivotal role in making that happen.