What To Look For When Selecting and Evaluating Your Supplier

Evaluating suppliers play a critical role in maintaining customer loyalty, as well as building and reinforcing relationships. Assessing your existing suppliers allows businesses to remove excess waste and increase efficiency. In contrast, those using evaluations for new suppliers provide a starting point towards establishing high-quality results and setting an expectation.

Understanding what you’re evaluating is essential, whether it’s an existing supplier or adding a new supplier. While we know it’s necessary to conduct these supplier evaluations initially and regularly, you must consider the specific factors and key areas your quality team should evaluate. Assessing your suppliers establishes value for your customers and aids in reducing possible risks, as well as ensuring you continue to provide your customers with the best products and services.

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September 13, 2022

“When I locate and evaluate new suppliers, I focus on their response time, price, research & development, capability, certifications, and GMP.”

So how does a business determine the most critical components of a supplier evaluation? Initially, establishing and communicating these goals with your supplier enables healthy communication and clear expectations upfront. If you’re working with an international supplier, are you conducting an in-person evaluation or a virtual evaluation? Do you have a quality team conducting the assessment, or are you hiring a third party? Once you know how the evaluation will be conducted, determine the most critical factors of the evaluation, such as quality, potential risks, production capacity, performance, cost, experience, etc. As you solidify the key components of your supplier evaluation, understand that these are fluid and forever evolving. As you build a relationship with your supplier, your evaluation may continue to evolve.

We asked HB’s team what they look for when evaluating our suppliers, and here are the responses that we received: