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.